General Motors CEO Dan Akerson has been in favor of selling Opel in the past and is now reviewing options on what to do with the money-losing European brand. Sources familiar with the matter said that selling Opel was not realistic, however, Akerson is pretty frustrated with Opel’s inability to return to profitability.
“Akerson is fed up with Opel, and the turnaround isn’t gaining traction,” said a an insider familiar with the GM CEO’s thinking. “He is trying to think of all possibilities to improve performance. But a sale is wishful thinking.”
GM dropped plans to spin off Opel in 2009, following months of negotiations to sell the brand. Akerson was one of only two GM board directors who voted against keeping Opel in late 2009 – maybe he was right.
– By: Omar Rana