Timothy Colbeck is the new chief operating officer (COO) for Saab North America

Article by Christian A., on May 9, 2011

Timothy Colbeck has been named as Saab Automobile AB’s chief operating officer for North America. Saab has recently entered a partnership deal with China-based Hawtai Motor Group. Saab had been forced to suspend production when it suffered a cash crunch and was unable to pay suppliers.

In a statement, Saab revealed that Colbeck is a 25-year veteran of Fuji Heavy Industries Ltd.'s Subaru of America unit. He served most recently there as senior vice president for sales.

Colbeck will be reporting to Matthias Seidl, Saab's global sales chief, and Saab’s North America board. Under the plan signed May 3, Saab will be receiving a 120 million-euro ($172 million) investment from Hawtai.

The agreement includes a plan for joint production in China. Hawtai is set to get up to 29.9% of Saab's owner, Spyker Cars NV. For this, Hawtai will give Spyker a loan of 30 million euros. Saab had to halt production on March 29.

It briefly resumed operations last month but it eventually had to suspend output again. On May 2, Saab said that it intended to restart production within a week, after receiving a 30 million-euro loan from Gemini Investment Fund Ltd.

Saab is also expected to draw down 29.1 million euros from the EIB, the European Union's lending arm. On April 28, it was reported that GM has tentatively agreed to allow Russian banker Vladimir Antonov’s investment.

Press Release

Saab Cars North America Appoints New President and Chief Operating Officer

Saab Cars North America today announced the appointment of a new president and chief operating officer, Mr. Timothy Colbeck. The announcement comes as Saab is embarked on its biggest-ever product offensive with four all-new products since 2010 – the all-new Saab 9-5 Sedan, Saab's first crossover- the 9-4X, the 9-5 SportCombi and the 9-3 Griffin range.

Effective Monday, May 9, Mr. Colbeck will oversee Saab's largest market, North America. He will report directly to Saab Automobile AB vice president and head of global sales & aftersales, Matthias Seidl and the Saab Cars North America Board of Directors.

Mr. Colbeck joins SCNA with 25 years of automobile industry experience in the United States with Subaru of America. Most recently he was the senior vice president sales. Under Tim's direction, Subaru of America achieved record sales and market share in the last two years and was the only brand to achieve sales increases in each of the last three years. During his career at Subaru, Tim has been in various executive roles, with experience in sales, ebusiness, finance and fixed operations.

"Tim's impressive accomplishments during his automotive career in rebuilding the Subaru brand are invaluable to the Saab team and represent his ability to further Saab's vision for success," said Matthias Seidl, vice president and head of global sales and aftersales. "We are pleased to have Tim join our North American team during such an exciting time for Saab Cars North America and we are confident Tim will help increase our brand image and sales."

About Saab

Saab, or Svenska Aeroplan Aktiebolaget (Swedish Aircraft Company), was founded in 1937 as an aircraft manufacturer and revealed its first prototype passenger car 10 years later after the formation of the Saab Car Division. In 1990, Saab Automobile AB was created as a separate company, jointly owned by the Saab Scania Group and General Motors, and became a wholly-owned GM subsidiary in 2000. In February 2010, Spyker Cars N.V. of the Netherlands, acquired the company from GM as an independently-run business.

Saab cars reflect the brand's unique Scandinavian design ethic, which is fused with its aircraft engineering heritage. The company is a global premium car maker with a distinguished history of innovation. It is recognized for its pioneering role in turbocharging, as well as occupant safety and the introduction of flex-fuel technology through Saab BioPower. Saab Automobile AB currently employs approximately 3,800 staff in Sweden, where it operates world-class production and technical development facilities at its headquarters in Trollhattan, 70 km north of Gothenburg.

Topics: saab, united states

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