GM confirms that Europe chief Forster to leave but help with replacement search

Probably because he screwed up the Opal deal and now Germany wants the bridge loan paid back. Or perhaps bailing early to lock in pension before the company goes under. Especially since GM is out of cash.
Probably getting more back door support from BO Obama assigning more debt to taxpayers taxpayers.
-------- By George Frey And Tom Krisher, The Associated Press http://ca.news.finance.yahoo.com/s/06112009/2/biz-finance-gm-confirms-europe-chief-forster-leave-help-replacement.html
DETROIT - Carl-Peter Forster, the chief executive of General Motors Europe who runs its struggling Opel unit, will leave the company, GM said Friday.
GM said in a statement that Forster, 55, would advise the company on picking a new Opel CEO. The statement gave no time frame for his departure.
Forster will be replaced temporarily by Nick Reilly, who is now president of GM's international operations who once ran Opel's Vauxhall operations in the United Kingdom, said a person briefed on the executive moves.
The person asked not to be identified because that move has not been announced publicly.
GM will search externally for a permanent new CEO of Opel and GM Europe, likely from Germany.
GM CEO Fritz Henderson said in the statement that no other Opel management changes are expected at this time.
The person briefed on the moves said that Hans Demant will remain on as managing director and head of the Opel management board.
The executive moves come after the GM board decided this week to keep its European Opel and Vauxhall units. The board rejected a plan to sell a majority stake in Opel to a group led by Canadian auto parts maker Magna International Inc. (TSX: MG-B.TO) and Russian lender Sberbank.
Forster, who has been GM's top European executive since June of 2004, advocated for the Magna deal before the sale was shot down by the GM board.
"Such a sudden shift isn't comprehensible," Forster told Germany's Bild daily Wednesday about GM's decision not to sell the units to Magna. "I hoped that it would have come to a much different outcome."
He told the paper that he didn't have an explanation for the decision from GM headquarters in Detroit either.
Asked what the restructuring of Opel would look like, Forster said: "I don't know. We have to work that out in the next days. I think the important men that decided this don't know themselves."
Forster's successor will have a difficult task of getting the European operations back on track.
Unions and employees had offered cost-cutting concessions to ease a Magna deal, such as forgoing pay increases, but those offers are now off the table and Opel workers went on strike in Europe, starting Thursday.
GM will face a new battle to secure concessions for its own restructuring plan - and has raised the prospect of the bankruptcy of the European divisions if all parties don't work to negotiate a viable plan.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Where do you get you goofy opinions? The entity the owns Opel is General Motors! General Motors IS ALREADY out of business and has been ever since being taken oven by the bankruptcy court, which is tasked to selling off all of it remaining assets. One of which is Opel.
The writer of the article, as do you, seems not understand that the new "GM" is not "General Motors." General Motors exists only in the records of the bankruptcy court.
The new GM, the number one auto manufacturer in the US, is comprised of Chevrolet, Buick, Cadillac and GMC period, and it in not out of cash, dummy.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Makes no difference to the taxpayer Mikey.
Makes no difference, they both suck on the taxpayers behind. And remain #1 in sales courtesy of the debt being placed on the taxpayers credit card. For without screwing over taxpayers, both would be long gone by now.
Too big to fail? I might ask too big to save!!! But it isn't about saving GM, it is about raping taxpayers for DC corruption.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Yet another dumb comment from our dimwitted friend Canuck57 LOL

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Motorsforum.com is a website by car enthusiasts for car enthusiasts. It is not affiliated with any of the car or spare part manufacturers or car dealers discussed here. All logos and trade names are the property of their respective owners.