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Opel files for Stock Corporation
Joint statement from management and works council
2010-11-23
Share ThisRüsselsheim. The Adam Opel GmbH has officially filed an application to change the company’s legal form into a stock corporation (AG).
Following today’s supervisory board meeting, Opel CEO Nick Reilly said, “I am pleased that we got the support from the Supervisory Board to change Opel to an AG. This is appropriate for a company like Opel and is a further step in our progress to return the company to a leadership position. The management board is happy to recognise the accountability it has. Already we have improved our financial position versus the plan we presented at the beginning of this year and we are delighted by the reception of our recent products by the motoring press and public.”
Klaus Franz, Vice Chairman of the Opel Supervisory Board and head of the works council says: “The change of the legal form into a stock corporation is an important milestone for Opel. The Opel management is ultimately responsible for Opel’s products. The return to a stock corporation has been a core request from the employee representatives.”
