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GM Unveils Overhaul Of Europe Operations Posted by Ian Glenday [Email]  (#95)  [Profile/Gallery]
(more from Ian Glenday) on Fri, 18 Jun 2004 08:46:12
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The following is a quote from today's WSJ Online.
"General Motors Corp. unveiled a much-anticipated overhaul of its European operations designed to streamline the company by bringing its units Adam Opel AG, Vauxhall Motors Ltd. and Saab Automobile AB under a single management structure.
GM said the head of Russelsheim-based Opel, Carl-Peter Forster, would take over as president of GM Europe at its headquarters in Zurich, with the heads of British-based Vauxhall and Swedish division Saab reporting to him.
Mr. Forster in turn will report to Fritz Henderson, who took over as president of GM Europe earlier this month and now gets the new title of chairman.
The company said its plans will speed up decision making and increase efficiency.
"Today we're asking all of our European employees to recalibrate themselves to a mind-set of working for General Motors overall, instead of an individual brand or country operation," Mr. Henderson told employees in a satellite broadcast according to a statement. "While maintaining brand character and integrity is vital, working together as one team is equally critical to future success," he said.
GM's European operations have been losing money since 1999 despite an ambitious restructuring plan, and the company recently had to backtrack from predictions that GM Europe would break even or make a profit this year.
While GM as a whole posted a profit of $1.3 billion for the first quarter, GM Europe remained the weak spot, seeing its loss widen to $116 million from $65 million in the year-earlier quarter. Market share slid from 9.6% to 9.5% in a sluggish European auto market.
The management overhaul is being undertaken to cut duplication, and move the finance, engineering, buying, manufacturing, sales and marketing operations of the different units into "pan-European" departments, the company said. GM also will create a single design unit, which will "align" work being done on new Opel, Vauxhall and Saab models."
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_______________________________________ Ian 1959 93b 1967 96V4 1968 99 1974 99L 1988 900S 1988 900 1994 900S 1996 900S 1999 9-5SE, 2.3lpt 1995 9000 CSE 2006 9-3SC, 2.0T
, Fri, 18 Jun 2004 08:46:12 <-- Viewing This Message
, Fri, 18 Jun 2004 09:25:57, Fri, 18 Jun 2004 14:35:27
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