Opel board to appoint Neumann as CEO at Jan. 31 meeting
 | Neumann is expected to become Opel CEO on March 1. |
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COLOGNE -- Opel's supervisory board will likely confirm the appointment of Volkswagen executive Karl-Thomas Neumann as the automaker's new CEO at a meeting on Jan. 31, a member of the board told Automobilwoche, a sister publication of Automotive News Europe.
Neumann, 51, will succeed interim CEO Thomas Sedran on March 1 after VW signaled its willingness to release him early from his contract.
"There is consensus on the supervisory board on this. Neumann has experience with restructuring and has excellent leadership skills," the Opel board member told Automobilwoche.
A source close to the VW Group said that the automaker was willing to let Neumann exit his contract early as a goodwill gesture, confirming earlier media reports that said Neumann would leave VW earlier than the June 30 expiry date on his contract.
Neumann was head of VW's China operations until last June when he was replaced by VW veteran Jochem Heizmann. He was CEO of German supplier Continental before he rejoined VW in 2009. The electronics engineer had spent a large part of his early career at VW.
Sedran will resume his responsibilities as board member for strategy after stepping down as CEO, the board member added.
You can reach Michael Knauer at autonews@crain.com.
