Opel CEO Resigns, Replaced By CFO Michael Lohscheller

Opel CEO Dr. Karl-Thomas Neuman has resigned from the German automaker.

Neuman has been replaced by Michael Lohscheller who has been serving as the company’s chief financial officer since 2012. Opel is describing the move as a “seamless managerial transition” and said Lohscheller will now be tasked with developing a strategic plan for Opel which will soon be owned by Groupe PSA.

In a statement, Neuman said “It was a difficult personal decision to not continue with the Opel/Vauxhall team when it transitions to Groupe PSA. 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.”

While Neuman has resigned as CEO, he will remain on Opel’s Management Board until the sale to PSA closes. According to recent reports, that could happen as early as next month.

What happens to Neuman after the sale remains a mystery but reports suggest Volkswagen has shown interest in rehiring him. Nothing is official but Neumanhe may be tapped to replace Audi CEO Rupert Stadler who is facing pressure over the company’s emissions cheating scandal.

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