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Opel's New Management Team to Be Unveiled Next Week

Opel's saga continues with a new rumor, this time concerning the new management team that is meant to push the company towards a successful future in the auto sector. It is now believed that Opel and Vauxhall CEO Nick Reilly will unveil this new management team next week, despite his statements that more details are scheduled to be released in mid-December.

Furthermore, Reilly said that a full viability plan for the German brand will be revealed in January, as there are still a number of issues to be discussed before making a final decision. GM is believed to reduce Opel's European workforce by 8,500 units, with Germany to be the most affected country. Furthermore, General Motors expects to receive financial support from countries hosting Opel factories, including Germany, UK, Spain and Poland.

"We are determined to do this right. We must do this right. Although we had hoped to have the new business model finalised in December, it appears that more work needs to be done and further consultations will not be rushed. I said earlier that we would have a plan in place by year-end. Now it looks like an announcement may slip into January. This is not a broken promise. It is a pledge to do something right," Nick Reilly said in a statement last week.

General Motors needs a total of 3.3 billion euro (around $4.85) in state aid in Europe.

"While it is indeed exciting to see that things are coming together, bear in mind this is going to be one of the largest, most complex industrial reorganisations in European manufacturing in years. It will affect thousands of people and their families; impact plants and other stakeholders," Reilly said.

 
 
 
 
 

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