GM Europe Boss Steps Down

GM Europe Boss Steps Down

GM's European operations have run up billions of dollars in losses over the past 10 years.

The head of General Motors (IW 1000/13) in Europe, Karl-Friedrich Stracke, has stepped down from his position as well as his role as head of Opel/Vauxhall, the firm said on Thursday.

GM vice-chairman Steve Girsky will take over his duties on an interim basis while the firm searches for a replacement, the company said in a statement.

The chief executive of the parent company, Dan Akerson, paid tribute to the 56-year-old Stracke, saying he worked "tirelessly, under pressure, to stabilize this business."

Stracke said he believed "Opel/Vauxhall has a bright future" and said he was looking forward to taking on "special assignments" under Akerson.

In June, Opel's supervisory board approved a deep restructuring plan to steer the firm, a loss-making unit of General Motors, back into profit.

GM's European operations have run up billions of dollars in losses over the past 10 years.

Copyright Agence France-Presse, 2012

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