GM CEO Akerson Fired Opel Head on Europe Trip, Handelsblatt Says
Stock Chart for General Motors Co (GM)
General Motors Co. (GM) Chief Executive Officer Dan Akerson fired Opel chief Karl-Friedrich Stracke during a visit to the German unit’s Ruesselsheim headquarters on July 12, Handelsblatt reported, without saying where it got the information.
Akerson “impulsively” asked Stracke to resign after the German said that Opel would fall short of a 2016 savings target by more than 100 million euros ($122 million), according to Handelsblatt.
Opel’s supervisory board will meet tomorrow to appoint 47- year-old Thomas Sedran, the management board member responsible for strategy, to succeed Stracke as CEO, Handelsblatt said, citing unidentified people at the company.
To contact the reporter on this story: Alex Webb in Frankfurt at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.