RUEIL-MALMAISON, France--(BUSINESS WIRE)--Regulatory News:
Groupe PSA (Paris:UG):
The Supervisory Board met on 23 July 2019, decided to appoint Michael Lohscheller, Opel Chief Executive Officer, as a member of the Managing Board effective from 1 September 2019 until the Managing Board’s term of office expires on 2 April 2021. He succeeds Jean - Christophe Quémard, Executive Vice President, Director Middle-East & Africa. The Supervisory Board thanks Jean-Christophe Quémard for his significant contribution to the Management Board since 2012. He remains member of the Global Executive Committee.
Michael Lohscheller's appointment to the Managing Board reflects the importance of Opel Vauxhall's integration into Groupe PSA. He will bring to the Managing Board his international experience gained from several OEM, as well as his expertise in finance, trade and logistics.
On this appointment, Louis Gallois, Chairman of the Supervisory Board of the Groupe PSA says: ‘I am very pleased, with the members of the Supervisory Board, to welcome Michael Lohscheller to the Groupe PSA Managing Board. It is in line with the Group's and the Supervisory Board's willingness to continue the internationalization of its senior management. It acknowledges the role taken by Michael Lohscheller in the turnaround of Opel Vauxhall’.
Michael Lohscheller is Chief Executive Officer (CEO) of Opel Automobile GmbH since 2017. Before taking over the position, he was responsible for the automaker’s finances.
Prior to joining Opel in September 2012, Michael Lohscheller was Executive Vice President and CFO at Volkswagen Group of America, where he led a successful turnaround.
During more than 20 years working for different automobile companies, Lohscheller had broad business responsibilities in different areas finance, e.g. marketing and sales, purchasing and logistics.
Lohscheller received a degree in business administration in 1992 after studying at the University of Applied Sciences in Osnabrück, Germany, and the University of Barcelona, Spain. In 1996, he earned a Master of Arts degree in European Marketing Management at Brunel University in London in parallel to his professional activity.
About Groupe PSA
Groupe PSA designs unique automotive experiences and delivers mobility solutions to meet all customer expectations. The Group has five car brands, Peugeot, Citroën, DS, Opel and Vauxhall, and provides a wide array of mobility and smart services under the Free2Move brand. Its ‘Push to Pass’ strategic plan represents a first step towards the achievement of the Group’s vision to be “a global carmaker with cutting-edge efficiency and a leading mobility provider sustaining lifetime customer relationships”. An early innovator in the field of autonomous and connected cars, Groupe PSA is also involved in financing activities through Banque PSA Finance and in automotive equipment via Faurecia.
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