GM (GM) is expected to name today former Volkswagen executive Karl-Thomas Neumann as the CEO of...

|By:, SA News Editor

GM (GM) is expected to name today former Volkswagen executive Karl-Thomas Neumann as the CEO of its perennial loss-making Adam Opel unit. Neumann, who is due to start on March 1, will be taking on a poisoned chalice: the European subsidiary has generated cumulative losses of $15B since 1999, which has caused a succession of CEOs to lose their jobs. He also won't be helped by the sorry state of the European car market.