GM Europe Boss Steps Down

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