GM Board Expects Opel to Close Plant in Europe

General Motors Co. directors say they are pleased with the performance of CEO Dan Akerson, Bloomberg News reports.

But the three directors interviewed by the news service add that Akerson still needs to boost GM's operating margins, groom a successor and turn around the company's ailing Adam Opel unit.

Director Robert Krebs tells Bloomberg that Opel will close a plant when its existing labor contract expires in 2014. GM has repeatedly said it plans to reduce capacity in Europe but has not previously declared its intention to shutter a factory there.