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Opel CEO Neuman resigns ahead of sale to PSA Group, may go back to VW as Audi head

General Motors’ Opel CEO Karl-Thomas Neumann was replaced by chief financial officer Michael Lohscheller.

autos Updated: Jun 12, 2017 18:44 IST
Associated Press
Associated Press
Associated Press
General Motors,Opel,Karl-Thomas Neumann
Karl-Thomas Neumann, chief executive of Adam Opel AG, gives a speech during a ceremony as the 3rd million car produced at the Opel plant is presented in Eisenach.(Reuters file photo)

The CEO of General Motors’ Opel subsidiary is stepping down ahead of the unit’s sale to France’s PSA Group.

Karl-Thomas Neumann would leave his post as head of GM’s European carmaker immediately, Adam Opel GmbH said in a statement on Monday. He will remain a member of top Opel management until the sale to PSA Group goes through.

Neumann was replaced by chief financial officer Michael Lohscheller.

The company said Lohscheller’s appointment would “ensure continuity” and a “seamless managerial transition” as Opel builds a new strategic plan for its future under PSA Group ownership.

Neumann’s resignation comes hours after a German daily reported that Volkswagen bosses were informally discussing giving Neumann, who quit VW in 2013 for the Opel top job, a prominent position, potentially as head of premium brand Audi.

(With Reuters inputs)

First Published: Jun 12, 2017 18:44 IST