General Motors' European Opel Division CEO Has Resigned

By Nick Kostov Features Dow Jones Newswires

The chief executive of Opel, General Motors Co.'s (GM) European division, has resigned.

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Opel said Karl-Thomas Neumann has been replaced in the role by the company's finance chief, Michael Lohscheller.

French car marker Peugeot SA (UG.FR) struck a more than 2 billion euro ($2.24 billion) deal to buy General Motors' unprofitable European operations in March.

Opel said that Mr. Lohscheller would remain a member of the management board until the closing of the sale of Opel to Peugeot, which is officially known as Groupe PSA.

Peugeot CEO Carlos Tavares welcomed the change. "We fully support the decision to appoint Mr. Lohscheller," he said.

-Write to Nick Kostov at nick.kostov@wsj.com

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(END) Dow Jones Newswires

June 12, 2017 09:44 ET (13:44 GMT)