General Motors has just announced several changes in their European corporate structure. A newly formed organization, called Opel Groupe will control the carmaker’s operations in Europe and Russia, being in charge with all its brands, Opel, Vauxhall, Cadillac and Chevrolet, on the markets where the American brand is still present. The decision to replace GM Europe with the new company was taken after the Chevrolet brand was withdrew from the Old Continent last year.
The new company has the same management as Adam Opel AG, GM’s German subsidiary, being led by Karl-Thomas Neumann, who is also Opel’s CEO. According to Neumann, reorganizing European operations should “align our organizational and legal entity structure in Europe with the business operations. We streamline our decision making processes and increase our efficiency. In brief: this reorganization is an important step in implementing our business plan DRIVE! 2022 and another sign of confidence of our parent company GM.”
The main target of the DRIVE!2022 is for Opel to reach a market share of 8% in Europe and 5% EBIT (earnings before interest) by 2022. In the first six months of 2014, the German carmaker’s market share was 6.9%.
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