Carl-Peter Forster

FRANKFURT (Reuters) - The head of General Motors' <GM.UL> European business, Carl-Peter Forster, is leaving the company after the surprise decision by GM's board to block the sale of Opel, two sources close to the situation told Reuters. "Forster told a small group of people today that he is leaving," one of the sources said. The son of a German diplomat and former BMW <BMWG.DE> executive was widely expected to run an independent Opel under jilted suitor Magna <MGa.TO>, and his departure would mark the first high-profile manager exit as a result of the failed deal that triggered a storm of outrage in Germany. ... Read Full Story

General Motors Europe head Carl-Peter Forster is quitting in disgust at GM's decision to hang on to its European unit Opel/Vauxhall, Spiegel magazine reported on Friday in its online edition. A spokesman for General Motors Europe and Opel contacted by AFP declined to comment on the report saying only that "if there are any personnel decisions we will make a statement on it." GM executive vice president David Reilly would replace Forster, as GM seeks to soothe anger over its decision to abandon this week a sale of Opel to Canadian group Magna and Russian partner Sberbank, Spiegel said. GM has decided to restructure ... Read Full Story

Two people briefed on the decision say Carl-Peter Forster, the chief executive of General Motors Europe, will leave the company. One of the people said Friday that Forster will be replaced temporarily by Nick Reilly, who is now president of GM's international operations. GM will search for a permanent new CEO of GM Europe. The two people asked not to be identified because the decision has not been made public. The moves come after the GM board decided this week to keep its European Opel and Vauxhall units. The board rejected a plan to sell a majority stake in Opel to a group led ... Read Full Story

Negotiations for the sale of General Motors Corp.'s unit Adam Opel GmbH to Canadian autoparts maker Magna are progressing well and should soon be complete, the head of GM Europe said in remarks released Saturday. Carl-Peter Forster was quoted as telling the Frankfurter Allgemeine Zeitung that he hoped the sale of Opel to Magna International Inc. could be complete by mid-July. "It's only about the details," he was quoted as telling the FAZ, according to a copy of remarks released before their publication in the newspaper Sunday. "After the meeting between the heads of GM and Magna, I am extremely confident a comprehensive agreement ... Read Full Story

FRANKFURT (Reuters) - General Motors Europe President Carl-Peter Forster expects to sell German unit Opel to Canadian auto parts supplier Magna soon, he told a German newspaper. "I am quite confident after a top-level meeting of GM and Magna, where broad consent was reached," Forster told Frankfurter Allgemeine Sonntagszeitung (FAS) in an interview which will be published on Sunday. "It's only about details." He did not give any details on the date, but said "it would be great if it worked out by mid July." Sources had told Reuters in June that General Motors and Magna had set a target of July 15 for ... Read Full Story