Opel Replaces Two More Executives image

The troubled GM’s Opel subsidiary in Europe made further changes in its management replacing two more executives.

On Wednesday, July 18th, Opel announced Michael Lohscheller, the CFO of Volkswagen’s US business will replace Chief Financial Officer Mark James. Another announcement was that Opel executive, Michael Ableson will replace research and development head Rita Forst. The news comes after last week Opel chief executive Karl-Friedrich Stracke suddenly resigned, two weeks after he presented a turnaround plan.

Michael Lohscheller, 43, joins Opel after four years as VW’s CFO of the US sales operation. He will replace Mark James beginning September 1st. Only a day before GM appointed Thomas Sedran, a restructuring specialist, as interim chief executive of Opel, in an attempt to return the ailing European automobile brand to profitability.

VW announced that Lohscheller will be replaced by Hardy Brennecke, 38, former sales controller of VW’s range of light commercial vehicles.

“With his extensive experience in Wolfsburg, he also brings the very needed element of having established strong networks at headquarters, which are critical in communicating our progress, and future opportunities at the appropriate times,” Volkswagen Group of America CEO Jonathan Browning said.