June 10, 2017 / 2:57 PM / a month ago

Opel CEO plans to resign after sale to Peugeot -German newspaper

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BERLIN, June 10 (Reuters) - Karl-Thomas Neumann, chief executive of Open, the European arm of General Motors, plans to resign, German newspaper Frankfurter Allgemeine Sonntagszeitung reported on Saturday.

The newspaper said Neumann planned to inform the company's board about his decision at its next meeting on June 22.

Neumann wants to stay on board only until GM completes the sale of Opel to France's PSA Group, the newspaper said.

Opel this week said the sale, valued at 2.2 billion euros ($2.46 billion), could be completed as early as July 31, pending regulatory approval from antitrust authorities. ($1 = 0.8935 euros) (Reporting by Andrea Shalal; editing by Alexander Smith)

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