GM Korea CEO resigns suddenly; Buttermore assumes interim chief


General Motors is considering moving car production from South Korea to Europe, the British Telegraph newspaper said Friday.

The plan, yet to be confirmed, is intended to revive the troubled Opel and Vauxhall arms, the Telegraph said, adding that some Chevrolet production lines might be transferred back to Europe to bolster its production lines there.

“We are not going to comment on speculation, but management, the works council and the supervisory board of Adam Opel AG are all in agreement that Opel has to become profitable, even in times of tough economic headwinds. We are jointly discussing our strategy and will keep our employees and the public informed,” the Telegraph quoted an unnamed GM spokesman as saying.

Moving the plant, however, is likely to face strong resistance from Korean workers, as the local union has warned that it would stage a fight against the move if the plan goes ahead.

Last year, GM Korea shipped about 250,000 vehicles to Europe.

Separately, GM Korea announced Friday its CEO Mike Arcamone resigned with his term not yet complete. No specific reason has been offered yet, and vice president John Buttermore, who is in charge of GM’s international operations, is to take over as an interim chief until the new CEO is appointed.

By Yang Sung-jin(insight@heraldcorp.com)