RE: DaimlerChrysler CEO may quit

From: Steven St.Laurent (Saint1958@home.com)
Date: Tue Nov 14 2000 - 15:19:05 EST


It was designed that way for total control. Must be a Hitler, Stalin, or
Gore theme...

---------------------------------------------------
Steve St.Laurent
2000 Dakota 4.7L, CC, Soon to be Supercharged
1999 Chebby gone in 2003
1993 Suzuki Tracker (Geo) 1.6L
COMING SOON
2003 Aspiring for a V-10 GTS-R
2003 Dodge Dakota 5.7 Hemi R/T

-----Original Message-----
From: owner-dakota-truck@buffnet.net
[mailto:owner-dakota-truck@buffnet.net]On Behalf Of Richard A Pyburn
Sent: Tuesday, November 14, 2000 10:43 AM
To: dakota-truck@buffnet.net
Subject: DML: DaimlerChrysler CEO may quit

Check this out. http://cnnfn.cnn.com/2000/11/14/worldbiz/chrysler/

                                    DaimlerChrysler CEO may
                                    quit
                                    German-American carmaker may name
                                    German trucks chief as successor
                                    November 14, 2000: 11:55 a.m. ET

                  NEW YORK (CNNfn) - James Holden, president and chief
executive of
                  DaimlerChrysler and one of the few North Americans left
in the company's
                  leadership, is set to step down this week to be
replaced by the head of German
                  parent DaimlerChrysler's truck and bus division,
according to a source familiar
                  with the situation.

                                        Dieter Zetsche, a member of
DaimlerChrysler's
                                        management board and head of its
commercial
                                        vehicles unit, is set to step in
at the U.S.
                                        operation, the Detroit News
reported Tuesday,
                                        following a disappointing quarter
at the Chrysler
                                        unit. An industry source
confirmed the report
                                        was correct and told CNNfn.com
                                        DaimlerChrysler's supervisory
board is expected
                                        to hold an extraordinary meeting
Friday.

                                        A DaimlerChrysler spokesman
declined to
                                        comment. The shake-up would mark
the removal
                                        of one of the last vestiges of
North American
                                        control at DaimlerChrysler. The
company that
                                        emerged from the $38 billion
buyout of the No. 3
                                        U.S. carmaker by Germany's
Daimler-Benz AG
                                        in 1998 was supposed to be
controlled from both
                  Stuttgart, Germany, and Chrysler's suburban Detroit
headquarters. But
                  Canadian Holden's departure apparently will leave only
two North American
                  executives, both executive vice presidents, on the
11-member executive board.

                  Thomas Stallkamp, a 19-year Chrysler veteran who was
widely credited with
                  helping turn the company around before the merger,
announced his departure
                  as president of DaimlerChrysler in September 1999.
Robert Eaton, who was
                  co-chairman of the company and who helped negotiate the
merger, retired in
                  March.

                  Thomas Gale, executive vice president in charge of
product development and
                  design who was credited with innovative design advances
at Chrysler,
                  announced his departure in September, the same day
DaimlerChrysler warned
                  of poor results at the Chrysler unit.

                  Chrysler, the U.S. arm of the transatlantic automaker,
recently reported a loss
                  of 579 million ($498 million) in the third quarter, and
pressure had been
                  mounting on Holden to stem the red ink.

                  While industry-wide auto sales have been
                  slowing, this generally has been a boom time of
                  record sales in North America for automakers,
                  and Chrysler's results have badly trailed the
                  American and Japanese-based automakers
                  selling in the market.

                  DaimlerChrysler blamed rising incentives in the
                  North American market for the Chrysler unit's
                  woes, although the company said it expects the
                  division to be in the black in the fourth quarter.

                  Holden, 49, was educated in the United States
                  and went to work in the auto industry with a job
                  at Ford Motor Co. in 1973. He joined Chrysler in
                  1981 as fleet development manager in truck
                  operations. His positions included executive vice
                  president, sales and marketing and general
                  manager for minivan operations, before he was
                  named president last October.

                  Turkish-born Zetsche joined Daimler-Benz in 1976 and
became chief engineer
                  of its commercial vehicle division in 1981.
DaimlerChrysler is the world's largest
                  maker of heavy trucks. During his tenure with the
company he also has been in
                  charge of the sales division for the Mercedes-Benz and
micro "smart" makes,
                  as well as sales of all makes in Europe, Africa, Asia
and Australia/Pacific.

                  Shares of DaimlerChrysler gained 1.4 euros to 55.10
euros in afternoon trading
                  in Frankfurt, while American depositary receipts of
DaimlerChrysler (DCX:
                  Research, Estimates) gained 27 cents to $46.66 in U.S.
trading.

Richard in San Antonio
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