Earlier this morning, we reported Opel CEO Dr. Karl-Thomas Neumann may not stick with the company much longer. Now, it’s official.
Neumann has officially stepped down as CEO and Speaker of the Management Board. He will, however, stay on Opel’s management board until the sale of Opel and Vauxhall to PSA Groupe is completed.
“It was a difficult personal decision to not continue with the Opel/Vauxhall team when it transitions to Groupe PSA. I am proud of the team for all we have accomplished so far and have no doubt that the move to PSA will make Opel/Vauxhall an even stronger and more successful company in the future. I am committed to completing this transaction and will then take some time to decide what is next for me,” Neumann said in a statement.
Opel’s board unanimously voted for Michael Lohscheller to succeed Neumann as Opel’s CEO, formerly the brand’s chief financial officer. He will be tasked with forging a vision for Opel under its new ownership.
“I would like to thank the Supervisory Board for the trust. We will stay on the current path and continue to gain strength as part of the Groupe PSA. After the expected closing of the transaction, a new European champion will emerge. I am looking forward to the new task and to working together with the management team to implement a successful future plan for the benefit of all 38,000 Opel/Vauxhall employees and its stakeholders,” Loscheller commented.
Loscheller’s appointment is effective immediately. Neumann may have something bigger on the horizon, though, as Volkswagen has reportedly approached him to become CEO of Audi.