REPORT: Opel President Carl-Peter Forster quits after sale collapse
German magazine Der Spiegel is reporting this morning that Opel President Carl-Peter Forster has resigned from General Motors following the board's decision to kill the sale of a majority stake to Magna International. Apparently, Forster was disgusted at the way that GM officials handled the whole process. Over the past several months, GM went back-and-forth, first agreeing to sell to Magna, then opting for another bid before returning to Magna, only to finally kill the deal altogether and keep the brand for itself.
A statement issued by GM Europe today declines comment on the whole matter, dismissing speculation about any personnel changes. The statement as translated by Google appears after the jump.
[Source: Der Spiegel via Autocar]
PRESS RELEASE:
Rüsselsheim. Around the leading bodies of Adam Opel GmbH, such as the board, there are currently a number of personnel speculation. Adam Opel GmbH can currently take no position on such speculation.
Even speculation about the role of Managing Director of Adam Opel GmbH or personal details in the management of Adam Opel GmbH, we can not comment at the moment.
After the vote of the GM Board of Directors, to retain Opel, will now begin discussions with all stakeholders. These will take place in the coming days. Adam Opel GmbH will refer in due course, together with General Motors' position.
Reader Comments (Page 1 of 3)
9600baud 11:07AM (11/06/2009)
I'd quit too if GM was my employer.
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thipps 11:53AM (11/06/2009)
well its good for you that Walmart is a stable company so you dont have to quit.
GM has been one of the greatest employers this country has ever seen. they just cant do that anymore.
derek 9:03AM (11/07/2009)
thipps, you are right.
[GM] is a great company...but they have their head in the wrong place...and they are finally starting to realize their potential and fly above the clouds!
With the Vo/t and the new cars yet to come...Chevy might be able to capture the hearts of Americans once again!
Nozferat 1:01PM (11/06/2009)
Just because you employ alot of people doesn't make you great.
thipps 1:42PM (11/06/2009)
@ Nozferat
i am guessing that you have never worked for GM. i am from just out side of Flint michigan (hometown GM, not detroit) until you live in an area like this you just dont know how much good this company does.
do you have a clue of how many pensions, insurance, schooling, personal bills, benefits and charity this company has given to its workers and more not to mention super inflated wages and up to 4 weeks paid vacations.
people who worked for gm over the past 50 or so years have been spoiled beyond belief
Noidor 2:24PM (11/06/2009)
It was obvious all along that GM was dragging its feet on purpose. I think the state aid from Germany, aid from US government, and many other factors played into GM top rank deciding that, "hey you know what let's maximize our gains by pretending that we are going to offload Opel" They manipulated the press, governments, and Foster. Oh and by "manipulated" I meant LIED TO. They Russia, Germany, WTO, EU, US need to investigate these goofballs, dig through every memo and email.
In other news, GM still doesn't see a recession in 2008.
Noidor 2:43PM (11/06/2009)
Plus you got to love the timing
1) Announcing the move JUST after Mrs. Merkel has left Washington DC
2) Right before a weekend of celebrations aimed at commemorating the 20th anniversary of the toppling of the Berlin Wall.
From Times article:
One ministerial aide said: “No one in government wants to be pictured swigging champagne as the fireworks go off, for fear of what the next news about Opel will be.”
Swede 8:13PM (11/06/2009)
LOL "up to 4 weeks paid vacations"
JB32 12:19AM (11/07/2009)
The news should read. 'GM, after being Blitzkrieg-ed by German dictator Angela Merkel and forced to give away Opel, a re-strengthed GM (and US) told Merkel to shove it.'
GM never agreed in good faith to give away Opel, they were strong-armed into a sale and when they regained strength and had EU backing said NO . You think Germany, after almost killing Chrysler and relying on the US for defense these last 60 years would throw us a bone. Instead Merkel couldn't wait to stick it to the US and GM. With friends like this...
Thankfully the EU and UK, Poland Spain to varying degrees realize that GM has benefitted them for years and is the best choice here.
Gardiner Westbound 11:14AM (11/06/2009)
GM shouldn't be buying anything until U.S. and Canadian taxpayers are repaid in full.
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Avinash machado 11:16AM (11/06/2009)
They are retaining Opel,not buying it.
lne937s 11:32AM (11/06/2009)
GM Europe was protected from the GM bankrupcy because it was placed in a trust financed by the German government. If it had not been, then GM would have had to make further cuts and the US government would end up spending more to keep GM afloat...
For all intents and purposes, post-bankruptcy GM is buying GM Europe from the German trust with funds provided by the US taxpayers.
andre 11:15AM (11/06/2009)
Reflects the incredibly inept decision-making process of GM's management. And it is handling how much of US taxpayers' money?
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Richie 11:16AM (11/06/2009)
seriously is that another civic clone... first the Kia now Opel?
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dukeisduke 11:39AM (11/06/2009)
That's the Ampera, Opel's version of the Chevy Volt.
John R 11:17AM (11/06/2009)
This as turned into quite the sordid affair. GM is #$%ing up from all quarters. I don't blame this guy. From what I've from this episode so far, not only does GM management stink but I wonder if they have any scruples at all.
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AngeloD 11:18AM (11/06/2009)
Good riddance.
This joker wasn't "disgusted" at the way the German government tried to strongarm GM into selling Opel, which they've owned for 80 years, to Magna in order to preserve jobs exclusively in Germany at the expense of workers elsewhere in the EU, and hand a sizeable chunk of GM's patent portfolio over to the Russians.
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AngeloD 11:21AM (11/06/2009)
Kudos to GM for having the backbone to stand up to these corrupt political flacks (esp. Merkel) in the German government.
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JIM MBONGO 11:23AM (11/06/2009)
I applaud GM's decision not sell Opel ro Magna International and its associates. Magna would never be able to handle Opel for very long. In my view they wold end-up selling Opel to Russian carmakers with all the technologies that took GM years to built. For Carl Forster, this guy put his own interets before the company's. Everyone knows he was promised to be the CEO of Magna owned-Opel. GM should have get rid of him a long time ago.
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Nixapatfan 11:39AM (11/06/2009)
It isn't about him quiting because GM didn't sell. He knows he is part of the layoffs that are coming, if he stayed he would have to layoff the workers and then get booted himself that's just how big business works.
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