Report: Opel CEO to step down once sale to PSA completed

AP News
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Posted: Jun 10, 2017 11:58 AM
Report: Opel CEO to step down once sale to PSA completed

BERLIN (AP) — The chief executive of German automaker Opel reportedly plans to step down from his post once the General Motors subsidiary's sale to PSA Peugeot-Citroen has been completed.

German weekly Frankfurter Allgemeine Sonntagszeitung reports that Karl-Thomas Neumann intends to inform Opel's board of directors at its next meeting on June 22.

Opel spokesman Michael Goentgens declined Saturday to comment on what he called "speculation."

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General Motors announced in March that it would sell Opel and British brand Vauxhall to PSA of France in a deal worth 2.2 billion euros ($2.46 billion).