After putting Opel CEO Stracke abruptly out to pasture, one would think that his (allegedly interim) successor Steve Girsky has a new plan to rescue Opel and to spare GM shareholders further losses. Not so. The new man will keep the old plan. “GM fully supports the current plan to strengthen Opel and improve its operational competitiveness,” a spokesman for Opel told Reuters.
A few weeks after Stracke had submitted a lukewarm restructuring plan, Stracke was abruptly fired, with Girsky taking his job until a new CEO is found.
The usually well informed Frankfurter Allgemeine Zeitung thinks it knows who will succeed the interim boss: Opel strategy boss Thomas Sedran, formerly at management consultancy Alix Parters.
FAZ says that once found, the new boss “won’t stay for long either.” GM is looking for a newer than new Opel CEO who is not coming from inside of the ranks. “In view of the situation, it will be hard to motivate a top executive for the job at Opel,” FAZ says. “Jobs at other employers such as Volkswagen, Daimler or BMW are far too attractive.” Job security sucks: Historically, the average shelf life of an Opel CEO is three years. This dropped to one year in more recent history.
Rotating captains while the Titanic is sinking is not a good idea.