Opel has announced that CEO Karl-Thomas Neumann has resigned ahead of the completion of the sale of the General Motors subsidiary to the PSA Group.
The German brand added that Neumann would remain “a member of the management board until the closing of the sale” to the French group, which owns the Peugeot, Citroën and DS brands.
Michael Lohscheller, Opel CFO since September 2012, was unanimously appointed as his successor with immediate effect.
“It was a difficult personal decision to not continue with the Opel/Vauxhall team when it transitions to Group PSA,” 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,” he added.
Earlier on Monday, Automotive News reported that the Volkswagen Group was considering rehiring Neumann (who left VW back in 2013), with the 56-year-old possibly heading up the Audi brand.
