Opel won’t comment on appointment of Karl-Thomas Neumann as CEO

Article by Anita Panait, on November 3, 2012

Opel refused to comment on a report that Karl-Thomas Neumann, Volkswagen manager and former Continental chief executive, will be named as its top honcho, the Financial Times Deutschland reported, citing industry sources. The Financial Times Deutschland cites an unnamed Opel board member as saying that Neumann as Opel’s new chief would be good for the carmaker since he has the caliber that the company needs.

An Opel spokesman told Automotive News Europe that as a general rule, the carmaker does not comment on speculation about personnel. Neumann was VW's chief for its China operations until June 2012, when he was supplanted by Jochem Heizmann and did not receive a new role in the German carmaker. He was regarded as a likely heir to VW chief executive Martin Winterkorn when he joined VW three years ago.

 According to the report, Neumann would replace Thomas Sedran who has been acting as Opel’s chief executive since early this year after GM sacked Karl-Friedrich Stracke because of the unit's declining sales. Sedran does not possess the technical experience needed to lead a car division, an Opel manager was quoted by the Financial Times Deutschland as saying.

Loss-making Opel has been one of the main headaches for GM, forcing the parent to carry out vital adjustments at its unit. Opel posted $16 billion in total losses over the last dozen years despite efforts to save costs. GM Europe posted $478 million in operating losses in the third quarter of 2012.

Topics: opel, ceo

If you liked the article, share on:

Comments

Recommended

A few months ago, Mercedes-Benz promised that they will be treating everyone to a “big surprise” during the Monterey Car Week. And true enough, many of us were stunned as...
by - August 19, 2017
McLaren has already shown some interest in electrifying their models. And initially, we thought that they will just use hybrid systems to use across their current lineup. Nevertheless, we have...
by - August 19, 2017
Fifty years after its glorious victory at the 24 Hours of Le Mans, Ford launches the 2018 Ford GT ’67 Heritage Edition at the 2017 Monterey Car Week. The red...
by - August 18, 2017
Hyundai has recently unveiled an unnamed pre-production model of its new fuel cell SUV. We don’t know what to call this model just yet, but sources say that this model...
by - August 18, 2017
This weekend at the 2017 Pebble Beach Concours d’Elegance, the BMW Z4 Concept will make its first public appearance. The good news is that we will finally have a real...
by - August 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries