Carl-Peter Forster to step down as head of GM Europe

According to a report by Spiegel Online, the head of General Motors’ European business, Carl-Peter Forster, is leaving the company after GM’s board of directors decided to keep Opel last week. A former BMW executive, Forster had strained ties with GM after being in favor of the Magna deal.

Forster was expected to head Opel under Magna International. His departure from General Motors would mark the first high-profile manager to exit as a result of GM’s decision to keep Opel and restructure it. Spiegel Online said that GM plans to replace Forster with Nick Reilly, who is the head of international operations based out of Shanghai.

A GM Europe spokeswoman declined to comment but Opel said that Forster was still be chairman and an announcement would be made should there be changes.

Last week, GM said that it expects the restructuring of Opel to cost 3 billion euros ($4.42 billion USD), which it says lowers the costs associated with outside bids for the brand.

– By: Stephen Calogera

Source: Reuters