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Saab recruits new North America head

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Saab recruits new North America head
07:43 CEST+02:00
Swedish car maker Saab AB has announced the recruitment of a top executive from Japanese firm Subaru to run its North American operations as it bids to rebuild its embattled brand.

Tim Colbeck, formerly the top sales executive at Subaru, has taken over effective immediately, Saab said in a statement.

Saab Cars North America had been without a top executive since January.

Under Colbeck's direction, Subaru of America achieved record sales and market share gains and was the only brand to achieve sales increases in each of the last three years.

"Tim's impressive accomplishments during his automotive career in rebuilding the Subaru brand are invaluable to the Saab team and represent his ability to further Saab's vision for success," said Matthias Seidl, head of Saab Automotive's global sales.

"We are pleased to have Tim join our North American team during such an exciting time for Saab Cars North America and we are confident Tim will help increase our brand image and sales."

Earlier this month, Saab shored up it finances by entering into an agreement with Hawtai Automotive Group, a Chinese automaker, while also securing some much-needed cash from the Gemini Investment Fund.

Spyker Cars NV of the Netherlands acquired the Swedish brand Saab from General Motors in February 2010.

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