Filed under: Europe, Hirings/Firings/Layoffs, GM, Opel
The Detroit News reports that Stephen Grisky has been named the Chairman of the Supervisory Board of Adam Opel AG. Grisky previously served as a vice Chairman with General Motors and replaces Nick Reilly at Opel effective immediately.Reilly recently stepped down from his position with Opel and will retire from GM early next year, leaving as the German automaker struggles to produce consistent earnings. The Detroit News points out that the company posted a loss in the last quarter after turning two quarters of profit. GM CEO Dan Akerson is quoted as saying that with Grisky on point at Opel, shareholders can expect the brand to return to "sustainable profitability."
No pressure, Grisky.
Earlier, Akerson warned that the European auto market may be headed for a deeper economic downturn, and that the implosion may have widespread repercussions. Grisky does seem to have a plan for Opel, however, saying that he intends to optimize the company's cost structure, improve its margins and better leverage GM's scale to the company's benefit. Hit the jump for the press release.
Continue reading GM vice chairman Girsky named Opel boss
GM vice chairman Girsky named Opel boss originally appeared on Autoblog on Thu, 24 Nov 2011 11:02:00 EST. Please see our terms for use of feeds.
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