Saab Management Shake-up

The Financial Times reported that the head of Saab has resigned from the Swedish carmaker following last week’s decision by parent company General Motors to build its next generation cars in Germany.

Peter Augustsson said on Wednesday that he would step down as chief executive and chairman after GM announced last week that the Opel plant in Russelsheim, Germany had won the battle to be the production base for the new Vectra and Saab 9-3 cars ahead of Saab’s Trollhattan plant in Sweden.

GM Press Release

TROLLHATTAN, Sweden, March 9, 2005; Peter Augustsson, the Chief Executive of Saab Automobile since 2000, has decided to leave his position at Saab and General Motors. Carl-Peter Forster, President of General Motors Europe, will assume the role of Chairman of the Saab Automobile AB board, and Jan-Ake Jonsson will assume the role of Managing Director for the brand.

"Peter has demonstrated a true belief in the Saab brand, and its people, over the years of his stewardship," said GM Europe Chairman Fritz Henderson. "He has steadfastly led Saab to a significant brand positioning within the GM brand structure, and has supported the improvement in the production facility there in Trollhattan, ultimately leading to the decision to build the all-new Cadillac BLS along side Saabs in the facility beginning early next year.

"We wish him the best in his new endeavors."

Augustsson had joined Saab as Executive Vice President in 1998, rising to the chief executive role in 2000, and assuming the chairman title in 2002. He plans to open a business development company in the near future.

"This has been a very challenging, but exciting, time for me professionally," Augustsson said. "I am absolutely convinced that the direction GM is taking the Saab brand is good for the brand and the local employees here in Sweden. GM is committed to the brand and its growth potential, and there is every reason to believe we will have a solid production future here in Sweden.

"I felt that it was the right time for me to move on to something I've wanted to do for some time. I wish Jan-Ake and Carl-Peter the best of luck in their future roles with Saab."

Augustsson's departure is effective April 1, as are the appointments of Forster and Jonsson.

"The combination of Jan-Ake leading the Saab brand, and Carl-Peter leading the Board is a strong one," said Henderson. "Combine that with the functional alignment we have in Europe for the sales and marketing, manufacturing and engineering operations, and there's every reason to believe in the future success of Saab."

Jan-Ake Jonsson first joined Saab-Scania Car Division in 1973 in Nykoping Sweden, and held a variety of positions until becoming Director, Aftersales & Services for Saab Automobile AB in Trollhattan Sweden in 1990. Since then he has held a variety of executive positions in the engineering and sales and marketing organizations within Saab and General Motors Europe. Most recently, Jonsson was Executive Director of Sales and Marketing for the Nordic region for General Motors Europe, including Saab.