January 13, 2012 / 7:46 AM / 8 years ago

GM's South Korea unit announces CEO resignation

SEOUL, Jan 13 (Reuters) - The chief executive of General Motors Co’s South Korea unit has resigned, the company said in a statement on Friday.

Mike Arcamone’s resignation comes at a time when GM and its German union are in discussions that could see GM transferring some production from South Korea to Europe, sources told Reuters earlier.

A GM Korea media official said Arcamone stepped down for “personal reasons” and would pursue other opportunities.

Arcamone took the helm of South Korea’s third-biggest carmaker in October 2009.

GM Korea said his replacement would be announced later, with GM International Operations Vice President of Manufacturing John Buttermore serving as interim chief.

Eyeing bigger rivals Hyundai Motor and Kia Motors, GM Korea has moved aggressively to boost sales after changing its brand from GM Daewoo to Chevrolet last March and launching a range of new models.

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