Daimler Keeps CEO,Promotes Executives
From Reuters
DaimlerChrysler gave Chief Executive Juergen Schrempp four more years to salvage his dream of creating a global carmaker and promoted three younger executives to key jobs across the group.
The company said it planned to extend Schrempp’s contract to 2008. It also announced the appointment of a new head of luxury cars unit Mercedes, a new finance chief and a new head of operations at Chrysler, all in their 40s.
The changes come as Schrempp, 59, battles to revive the group’s struggling Chrysler division and fends off criticism of the 1998 linkup between Daimler-Benz and the U.S. automaker that he dubbed a “marriage made in heaven.”
DaimlerChrysler shares fell 11 cents to $46.89 on the New York Stock Exchange.
From Reuters
