GM CEO starts Opel charm tour at Ruesselsheim HQ

Mon Nov 9, 2009 11:59am GMT
 
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* Henderson to address management, staff at Opel HQ

* GM exec responsible for restructuring Opel to join visit

By Christiaan Hetzner

FRANKFURT, Nov 9 (Reuters) - General Motors [GM.UL] Chief Executive Fritz Henderson was due in Germany on Monday to start talks aimed at soothing workers' tempers over the carmaker's plan to reorganise European arm Opel on its own.

GM plunged Opel into turmoil last week by reversing its plan to sell the business to a Russian-backed consortium led by Canada's Magna (MGa.TO), a deal that Henderson backed but that many in Detroit opposed given a nascent market recovery.

The U-turn torpedoed months of difficult negotiations and infuriated German political leaders and Opel staff.

Emotions are running high among the 25,000 workers in Germany who had feverishly hoped Magna would take control of Opel, which they believe GM had long neglected in favour of the Chevrolet brand.

Opel's top labour leader, Klaus Franz, told Reuters that he wanted Detroit to grant the same degree of autonomy to the European carmaker it would have received under Magna as a precondition for talks on any staff and wage cuts.  Continued...

 

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