General Motors Co. has tapped Treasurer Walter Borst to fill the position vacated by Carl-Peter Forster. Borst, 48 years old, is now the supervisory board chairman at GM's Opel/Vauxhall unit.
Among the many management changes that have taken place in GM are the resignation of Forster as GM Europe president and Opel chairman last month and the appointment of Nick Reilly, its former international operations chief, as GM Europe president and Opel CEO, earlier this month.
Borst heads the GM treasurer's office, which is based in New York with additional operations in Detroit, Zurich and Shanghai.Borst's appointment to Opel's board actually took place earlier this month, along with Reilly, who had served then as the unit's acting chief.
Borst had been Opel's chief financial officer from 2000 to 2003 before eventually being named as GM treasurer in 2003.
Although Borst is a US native, he married a German and he now speaks the language as well.
He got his bachelor's degree in finance from Kettering University (formerly known as General Motors Institute) in Flint, Michigan, in 1985. He earned his master of business administration degree from Stanford University in 1987. [via autonews - sub. required]