GM CEO Says European Ops To Become More Independent |
| Wall Street Journal - Nov 10, 2009 |
General Motors Co. Frederick "Fritz" Henderson Tuesday that the company's Opel and Vauxhall brands are set become more independent as the U.S. automaker is preparing for a wide-ranging restructuring of its European operations.
"We need to change the way how we operate in Europe. Just as we need to change the way we need to change the way we operate in the U.S.," Henderson told reporters at Opel's headquarters in Ruesselsheim near Frankfurt, adding that "this doesn't mean they're not part of GM".
He said GM's European operations might gain additional responsibilities, while at the same time becoming "more accountable" for decisions.
Henderson reiterated previous statements that the financing needs for Opel and Vauxhall are "around EUR3 billion". He said details on where this money could come form are yet to be determined in upcoming talks with labor unions and European governments.
Read Full Article from Wall Street Journal
- Posted: 2009-11-10 11:00:47
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