GM named global engineering chief Karl – Friedrich Stracke to replace CEO of Opel Nick Reilly, effective April 1. Stracke, who has led GMs global vehicle engineering operations for the past 15 months, will report to Reilly, who will remain the head of GMs European operation.
“The European market and our European operations are important to General Motors, and these moves will ensure that we have the best leadership in place as we continue toward growth and profitability,” said GM CEO Dan Akerson in a statement.
Stracke is a 32 year vet of GM, and joins the Opel division as it seeks a return to profitability. GM Europe lost $1.76 billion last year, and expects to break even this year.
“I am excited to lead a company with such a rich German heritage at this time in its history,” said Stracke. “Opel/Vauxhall has a great workforce and an exciting and innovative product portfolio. I’m looking forward to a thriving future.”
“I will be staying in Ruesselsheim,” Reilly said during a conference call today. “As he (Stracke) gets his feet on the ground more, it will allow me some more time to look at the long-term strategic positioning in Europe.”
– By: Stephen Calogera