Michael Lohscheller Replaces Dr. Karl-Thomas Neumann as Opel CEO
Opel announced on Monday that CEO Dr. Karl-Thomas Neumann has stepped down from the positions of Speaker of the Management Board and CEO of Adam Opel GmbH and will end his tenure with Opel’s Management Board upon the close of the brand’s sale to PSA Group. Speculation has it that the sale of Opel from GM to PSA will be concluded as early as July 31st.
Effective at the time of that announcement is the unanimous appointment of Opel CFO Michael Lohscheller to both positions by the Supervisory Board.
“It was a difficult personal decision to not continue with the Opel/Vauxhall team when it transitions to PSA Group,” said Neumann. “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 was originally named Chairman of the Board of Adam Opel AG and President Europe on March 1st, 2013. From July 1st, 2014, he took on the role of Chairman of the Management Board of Opel Group GmbH. Neumann has not indicated his intentions after his resignation from Opel, but rumors have already begun to swell around Volkswagen considering for the role of heading up Audi.
“I would like to thank the Supervisory Board for the trust,” said Lochscheller. “We will stay on the current path and continue to gain strength as part of the PSA Group. 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.”