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July 28, 2005
Sprockets! Juergen Out, Dieter In at DCX
DaimlerChrysler CEO Juergen Schrempp has resigned, effective Jan. 1, 2006, and will be replaced by Dieter Zetsche, the president of DCX's U.S. division.
The promotion is a bit of a surprise, since many in the industry thought the position would go to Mercedes chief Eckhard Cordes, and Schrempp has three years left on his contract. [UPDATE: Reuters is reporting that Cordes has asked the board to accept his resignation.]
Two American executives are getting promotions in the lineup change, including Thomas W. LaSorda, currently Chrysler's chief operating officer, who will will move into Zetsche's chair. Eric Ridenour, a Chrysler R & D executive will get LaSorda's job.
With Zetsche in and Cordes out, speculation is going along two lines -- first, the Smart car project is probably in for yet another shakeup, as it was a Mercedes/Schrempp favorite.
Second, it's hard to see Zetsche leading the charge to break up the German and American divisions, as shareholders have been demanding, since his U.S. division is the one that has been leading the company in terms of buzz, products and profit.
Posted by Frank at July 28, 2005 9:32 AM | Filed under Auto News
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