Saab's CEO Resigns After Losing GM BidBy MATTIAS KARENAssociated Press Writer

After losing a bid to produce General Motors Corp.'s midsize cars, Saab Automobile's Chief Executive Peter Augustsson said Wednesday he will resign in April to start his own company.

Augustsson, who has led Saab since 2000, will be replaced on April 1 by Jan-Aake Jonsson, the current chief of sales and marketing for GM's Nordic region.

Augustsson's announcement came five days after GM dashed Saab's hopes that its plant in Trollhaettan would be chosen to produce future generations of GM's midsize cars in Europe. Instead, the U.S.-based auto company said an Opel plant in Ruesselsheim, Germany, will be its hub for such production.

But, GM guaranteed that the Trollhaettan plant will keep producing automobiles until 2010, including a new Cadillac BLS model aimed at the European market.

Augustsson said GM's announcement Friday provided "a fitting moment" to end his career with Saab.

"If I was going to stay, I'd have to commit for several more years," Augustsson said. "I don't feel like I can do that. I want to do something else now."

He said he plans to start a business development company, but declined to provide details.

Carl-Peter Forster, president of GM Europe, will take Augustsson's place as chairman of the board of Saab Automobile AB, the company said.

After General Motors acquired a stake in Saab Automobile in 1990, the automaker has posted profits just twice. Since 2000, when GM acquired Saab, the company has been in the red but Augustsson said, "I don't feel like I've failed."

ya know...I really don't care about this at all.

I hate Saab.

I hate GM.

I'm glad they didn't Buy Ferrari...thank you Fiat.

"Onstar, how can I help you?"

'Uhh, I locked my keys in this Enzo. I swear its mine! Can you open it?'

Augustsson? Johnsson? What the hell is with those guys and extra "s"s?

Interesting. So this guy sees a need to create another yuppie car company. Oh joy.

Eh, SAAB makes some decent cars, but I don't know enough, or care enough to be interested in any internal dealings... so, later Augustsson I never knew you, but your name sucks.

gabossie wrote:... so, later Augustsson I never knew you, but your name sucks.

Damn you guys, did somebody piss in your Cheerios? Damned bunch of haters.

Remember: zerothread?id=73264

Saab makes a damn fine car.

repo man wrote:Damn you guys, did somebody piss in your Cheerios? Damned bunch of haters.

Remember: zerothread?id=73264

Saab makes a damn fine car.

Hey, thanks for bringing this back up ... where's the pics??

Its funny how they look like Audis now. No coincidence that the Audi design chief moved to Saab recently.

Rex wrote:
Hey, thanks for bringing this back up ... where's the pics??

The pic I took yesterday my wife wouldn't let me post. It was dirty and has the winter wheels/tires on it. I'll get some decent ones though.

repo man wrote:... my wife wouldn't let me post.

Now that's funny.

Rex wrote:
Now that's funny.

Hey, it's her car...

repo man wrote:
Damn you guys, did somebody piss in your Cheerios? Damned bunch of haters.

Remember: zerothread?id=73264

Saab makes a damn fine car.

And you STILL never put those pics up. Unless there's another thread with them. If so then I stand corrected.

According to a piece in last Sunday's Wall Street Journal it is rumoured that GM is secretly shopping Saab. Poissible suitors are thought to be Peugeot and a Renault/Nissan partnership.