Michael Lohscheller, who had been Opel’s chief financial officer for the past five years, has taken over as the German company’s CEO, Opel said Monday. It wasn’t immediately clear what role Peugeot CEO Carlos Tavares played in the change at Opel. “I know some of you are disappointed, but I hope you can understand my decision,” Mr. Neumann wrote on Twitter. GM installed Mr. Neumann in early 2013 after a turbulent period of restructuring and executive turnover at Opel. Still, Mr. Neumann was unable to deliver on his primary goal of ending a long run of losses in Europe.

Source: Wall Street Journal June 12, 2017 15:56 UTC