Opel CEO Karl-Thomas Neuman has resigned from the Russelsheim-based car manufacturer. According to Opel, Neuman was replaced by Michael Lohscheller who has been serving as the company’s chief financial officer since 2012.

Opel said is a "seamless managerial transition" and Lohscheller will not be tasked with developing a strategic placn which will soon be owned by PSA. 

“It was a difficult personal decision to not continue with the Opel/Vauxhall team when it transitions to Groupe PSA. I am proud of the team for all we have accomplished so far and have no doubt that the move to PSA will make Opel/Vauxhall an even stronger and more successful company in the future", said Neuman. 

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According to Opel, Neuman will remains on Opel’s Management Board until the sale to PSA closes. 

Source: Opel