Ex Conti CEO Wennemer Quits Opel Trust Board

Former Continental AG CEO Manfred Wennemer’s tenure as one of five Opel Trust board members ended on November 7 following his resignation in protest against political interference over the planned sale of vehicle manufacturer Opel. According to Reuters, while Wennemer’s act of protest against the “constant interference” from German politicians in potentially embarrassing to Berlin, his resignation is however “essentially symbolic” following General Motor’s recent change of mind regarding its European subsidiary.

Although appointed to the board to represent the German government’s interests, Wennemer voted against Magna’s acquisition of Opel, a deal strongly backed by German chancellor Angela Merkel, just days prior to the country’s national election.