/ General Motors, Industry, News, Opel / Opel may appoint Neumann as CEO this week, report says

Opel may appoint Neumann as CEO this week, report says

Linked In Share
Opel may appoint Neumann as CEO this week, report says

Opel may appoint Karl-Thomas Neumann this week to lead its restructuring effort, people familiar with the matter told Bloomberg.

The former head of Volkswagen’s Chinese operations may be appointed as CEO on January 31 by Opel’s supervisory board. The unnamed sources said Neumann may take over in March

VW agreed to release Neumann from his contract three months before it expires in June, another source said. Neither Opel, nor Volkswagen commented on the issue. Thomas Sedran, Opel’s strategy chief, has been acting CEO after GM forced out Karl-Friedrich Stracke in July 2012.

51-year-old Neumann was passed over last June when VW created a new board position to focus on the Chinese operations and appointed Jochem Heizmann. Neumann previously worked at Volkswagen until 2004, when he left to join Continental AG. He was ousted as Continental CEO in 2009 after a dispute with Schaeffler AG, the German car-parts maker’s largest investor. He rejoined VW later that year. Opel sales chief Alfred Rieck, also a former VW executive, resigned last week after less than a year in the job.

GM wants to break even in Europe by 2015 after losing $17.3 billion on the continent since 1999. Within the next three years, GM Europe plans to cut $500 million in annual costs, after eliminating $300 million in spending and 2,600 jobs in 2012.

by Dan Mihalascu (my Google+) - Monday, January 28th, 2013 - filed under General Motors, Industry, News, Opel. Image credit: .
Linked In Share
Related Articles
Alfred Rieck auto execs auto executives bloomberg continental ag General Motors GM gm europe karl-thomas neumann Opel opel ceo Thomas Sedran


Discuss: Opel may appoint Neumann as CEO this week, report says

2 Responses to “Opel may appoint Neumann as CEO this week, report says”

  1. Susan Carter says:

    Word has it on other sites that VW were very happy to release Mr Neumann early as he has apparently managed to upset a few people there as well. So it would seem that three companies, Schaeffler, Continental and VW that, even given the current difficult times, are doing really well, don't want Mr Neumann, so one has to question Opel's decision. Both Schaeffler and Continental specifically have far exceeded expectations since Mr Neumann's departure with expansion plans globally including Russia, Hungary, Asia and the US. Still with Alfred Rieck leaving after only one week in the job with Opel maybe ……………………….. !

  2. @pip1306 says:

    Well I am not to sure what to think about that nomination. With Susan I kinda agree. Neumann has not made any friends at VW, it is said he was too ambitious. Similar with Continental/Schaeffler, as hes was strictly against the takeover and activly working against it. All three companies are doing fine now. Let's hope he can control Opel well and he can really turn this worn down company around.

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Teams hit back at Ecclestone attitude
Teams hit back at Ecclestone attitudeNov.15 (GMM/Inautonews.com) F1 teams have hit back at Bernie Ecclestone's attitude about social media. In a typically ...
Honda era begins, McLaren denies Sainz rumour
Honda era begins, McLaren denies Sainz rumourNov.15 (GMM/Inautonews.com) McLaren's new works Honda era got up and revving at Silverstone on Friday. The test, allowed under ...
Ecclestone set to drop double points for 2015
Ecclestone set to drop double points for 2015Nov.15 (GMM/Inautonews.com) As the double-points finale approaches, Bernie Ecclestone has admitted the controversial scheme will ...
Caterham heading to Abu Dhabi for 2014 finale
Caterham heading to Abu Dhabi for 2014 finaleNov.14 (GMM/Inautonews.com) Caterham on Friday announced it will return to formula one to contest the season finale in Abu ...
No point attracting young generation to F1 – Ecclestone
No point attracting young generation to F1 – EcclestoneNov.14 (GMM/Inautonews.com) Bernie Ecclestone has ensured the world of formula one on Friday will be discussing one thing -- his ...
Caterham preparing freight for Abu Dhabi
Caterham preparing freight for Abu DhabiNov.14 (GMM/Inautonews.com) Caterham's administrator on Friday said the team is preparing equipment to be shipped to the season ...
Test Drive: Mini Cooper S 5 Door
Test Drive: Mini Cooper S 5 DoorMini – you know, the iconic city car brand introduced by Sir Alec Issigonis in the UK and revitalized by the world’s largest ...
2016 Chevrolet Malibu spied
2016 Chevrolet Malibu spiedOur spy photographers have managed to capture on camera the next generation of the Chevrolet Malibu. Ever since the Malibu ...
Crashed Ferrari F355 spotted at repair shop in Switzerland
Crashed Ferrari F355 spotted at repair shop in SwitzerlandA crashed unit of the Ferrari F355 has been recently spotted out at a repair shop in Switzerland. Despite leaving the production ...
Nissan Murano enters production in the U.S.
Nissan Murano enters production in the U.S.The first unit of the new-gen Nissan Murano has recently rolled off the production line in the United States, at the Canton ...
2016 Audi A4 spied
2016 Audi A4 spiedThe next generation of the Audi A4 has been caught on camera recently while it was being tested out. The German based automaker ...
Nissan GT-R Nismo is sold out in North America
Nissan GT-R Nismo is sold out in North AmericaThe Nissan GT-R Nismo is apparently sold out in North America where just 200 units of the sports car were available. If you were ...
Ferrari F430 burns in Hong Kong
Ferrari F430 burns in Hong KongA Ferrari F430 is the latest example of spontaneous combustion in the world of supercars. If you were wondering why Italian ...
Rare Porsche Carrera GT for sale
Rare Porsche Carrera GT for saleA rare example of the impressive Porsche Carrera GT is currently being offered for sale, finished in factory color Arancio ...
Jaguar F-Type gets crashed in South Africa
Jaguar F-Type gets crashed in South AfricaAnother version of the Jaguar F-Type has been crashed once again in South Africa after the driver lost control of the wheel in a ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Mini_5door_DSC9724
Spy-Shots of Cars
ferrari 355 crash switzerland 1
nissan murano production united states 1
2016 Audi A4 Spied
ferrari f430 fire hong kong 1
jaguar f-type crash south africa 1
BMW-X4-M-Performance-Parts1
Rolls-Royce Maharaja Phantom Drophead Coupe 1
2015 audi a1 facelift 1
bmw i8 puerto rico 2
2015 Ford Everest 1

More automotive from inautonews
Mini – you know, the iconic city car brand introduced by Sir Alec Issigonis in the UK and revitalized by the world’s largest premium automaker, BMW – is in the midst of a critical generational change. That means the core model – the Mini hatchback – has received its third iteration if we ...
read more
Inautonews Editors Section
Test Drive: Mini Cooper S 5 Door
Test Drive: Mini Cooper S 5 DoorMini – you know, the iconic city car brand introduced by Sir Alec Issigonis in the UK and revitalized by the world’s largest premium automaker, ...
Test Drive: Mercedes-Benz GLA 220 CDI
Test Drive: Mercedes-Benz GLA 220 CDIThe Mercedes compact family has a new member – the adventurous GLA crossover. That means the lower-end of the luxury automaker’s lineup consists ...
Test Drive: Dacia Sandero Stepway 1.5 90 HP
Test Drive: Dacia Sandero Stepway 1.5 90 HPIf you live in Europe, you don’t need an introduction to Dacia anymore – this is the affordable Renault subsidiary that rocked the auto industry ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety These are Takata’s airbag recall crisis turning points – so farJapanese safety auto parts producer Takata Corp has been involved in the second big safety scandal ... Recall roundup: Mercedes-Benz C-Class in the United StatesMercedes-Benz has recently issued a recall for the new C-Class generation in the United States ...
Safety Section