DaimlerChrysler Realigns North American Managers

DaimlerChrysler Corp. on Wednesday gave Jim Holden, president of its North American arm since September, the added title of chief executive and shifted other managers as the auto maker tries to rebuild market share and boost its lagging stock price.

The latest shifts come as the auto maker works to restore confidence for U.S. employees after several high-level departures.

Holden, 49, had already taken on additional responsibilities at DaimlerChrysler after the April 1 retirement of Robert Eaton, who served alongside Juergen Schrempp as co-chairman of the Stuttgart, Germany-based parent corporation. Holden was named president in September after predecessor Tom Stallkamp was forced to leave.

Among the other changes, Kathleen Oswald, 50, moves from senior vice president for human resources to chief administrative officer, reporting both to Holden and to Schrempp. She becomes the highest-ranking woman in the U.S. auto industry.

The DaimlerChrysler Corp. unit consists mainly of the operations of the former Chrysler Corp.

Daimler’s U.S. market share slipped to 16.2% in the first five months of this year, from 17.7% in the year-earlier period.

The company’s shares closed off 75 cents at $53.44 on the New York Stock Exchange. The shares have fallen by 31% this year, largely on disappointing earnings since Daimler-Benz bought Chrysler Corp. in 1998.