George S. May Business Blog

GM Europe — Nick Reilly in, Carl-Peter Forster OUT!

As expected, Carl-Peter Forster of General Motors, will be stepping down from his position of CEO of GM Europe. His replacement, Nick Reilly, will assume the responsibilities for the operation of Vauxhall and Opel Europe. But, GM made it fairly evident that Mr. Reilly will not be running the position for the long haul. Reilly is expected to hold the position on an interim basis, while GM searches for a new CEO.
Fritz Henderson, General Motors president:

“As we announced last Tuesday, Opel/Vauxhall will remain a fully integrated member of the New GM family, a decision that is in the best interests of Opel/Vauxhall, its customers, employees, other stakeholders and GM,”.

Henderson continued, “With his deep experience with the Opel and Vauxhall brands, Nick is well suited to lead this transition and to work toward the earliest possible normalization of the business”.

The company said that GM Europe vice president Engineering, managing director Adam Opel GmbH, Hans Demant, will keep his role leading the Opel Management Board and will work with Reilly during this transitional phase.

Related posts:

1. Europe’s Credit Crisis Comes to a Boil Europe has been swimming against a tide of indifferent credit ratings, and aggressive bond devaluation as it’s tried to right several member banks and put...


2. GM jumps ship on Opel deal — German government not happy, to say the least For the past few months, General Motors has been in negotiations with supplier Magna and its partner Sberbank over plans to sell its Opel unit....


3. Peter Madoff under fire from Manhattan U.S. Attorney’s office Another member of the Madoff family has found themself on the hot seat. The New York Post reports that Peter Madoff, brother of the infamous Ponzi Schemer, Bernard,...


4. CIT $1 billion from Carl Icahn, Icahn Capital LP As a part of their restructuring plan, CIT has entered an agreement with Carl Icahn to secure a $1 billion line of credit from Icahn...


5. Mark LaNeve, vice president of General Motors U.S. sales, out! Fritz Henderson, CEO of General Motors, announced Wednesday morning that Mark LaNeve, vice president of U.S. sales, will be leaving. No replacement has been announced,...