Sounds like it's time to call up the "Home Boys" and chit chat with them about
our Pinging problem. (And in their language to boot) ;)
Bernd Dieter Ratsch
(aka: Bernd)
- Bernd
> Stuttgart-Moehringen, November 17, 2000
>
> Supervisory Board approves new management for Chrysler Group
>
> ** Dieter Zetsche new President/CEO of Chrysler Group
> ** Introduction of Chief Operating Officer (COO) at Chrysler Group:
> Wolfgang Bernhard to be named COO and Deputy Member of the
> DaimlerChrysler Board of Management
> ** Eckhard Cordes new Head of Global Commercial Vehicles Business
>
> During an extraordinary meeting in Stuttgart, the Supervisory Board of
> DaimlerChrysler AG, today approved Management Board Chairman Jürgen E.
Sc> hrempp*,
> s reorganization plan for the Board of Management.
>
> As a result, Dr. Dieter Zetsche and Dr. Wolfgang Bernhard are appointed
> President/CEO and COO respectively of the Chrysler Group, and will assume
t> hese
> responsibilities, effective immediately.
>
> Due to a significant shift in market conditions in the U.S., the new
manage> ment
> team of the Chrysler Group will fundamentally reposition and restructure
th> e
> business. This program, details of which will be announced in the first
qua> rter
> of 2001, will focus on measures to improve cost positioning, product
line-u> p
> and market performance.
>
> Since the announcement of the third quarter results in late October, tough
> market conditions in the United States have intensified further,
characteri> sed
> by ongoing competitive incentive spending, high dealer inventories and a
> resultant reduction in production levels. As a consequence results at the
> Chrysler Group will fall below the last forecast and thus also affect the
> earnings of DaimlerChrysler AG.
>
> The Supervisory Board and the shareholder committee strongly reaffirmed at
> the
> meeting today its support for the global strategy of DaimlerChrysler and
> assured the Management Board of its full backing concerning all necessary
> measures to achieve that objective.
>
> Dieter Zetsche to head Chrysler Group
>
> Dr. Dieter Zetsche (46), member of the Board of Management responsible for
> the
> Global Commercial Vehicles business will assume the leadership of the
Chrys> ler
> Group as President and CEO of the Chrysler Group immediately and continue
t> o
> serve as a member of the Board of Management.
>
> Since commencing his professional career with the company in 1976, Zetsche
> has
> held increasingly responsible management positions both domestically and
> internationally. He has been Head of Development and Design of
Mercedes-Ben> z
> passenger cars and also world-wide Sales and Marketing for Mercedes-Benz
> products. His international assignments have involved terms as Board
Member> of
> Mercedes-Benz do Brasil and President of Mercedes-Benz Argentina. As
Presid> ent
> and CEO of Freightliner, the leading U.S. commercial vehicle producer, he
> achieved an impressive turn-around.
>
> Wolfgang Bernhard to become new COO of the Chrysler Group and deputy
member> of
> the Board of Management
>
> Dr. Wolfgang Bernhard (40) will take over the newly created position of
Chi> ef
> Operating Officer (COO) of the Chrysler Group. Bernhard, who has been
appoi> nted
> deputy member of the Board of Management of DaimlerChrysler AG, was
respons> ible
> for the very successful launch and introduction of the new S-class and
rece> ntly
> became Managing Director of Mercedes-AMG. In addition to his extensive
prod> uct
> and development experience, Bernhard is also an acknowledged production
exp> ert.
>
> As COO he will be responsible for all internal operations and the
> implementation of initiatives necessary to strengthen and restore the
posit> ion
> of the Chrysler Group.
>
> After a thorough examination and in-depth analysis of the current
situation> ,
> the leadership team of Zetsche and Bernhard, in conjunction with
Chrysler*> ,s
> management and the full support of DaimlerChrysler AG will initiate and
spe> ed
> up the necessary measures for the *8turn-around*8. The new appointments
wil> l also
> accelerate the transfer of knowledge and technology within the
DaimlerChrys> ler
> Group.
>
> Jim Holden will step down with immediate effect. We thank Jim Holden for
hi> s
> many years of contribution for the company.
>
> Eckhard Cordes to become new head of Global Commercial Vehicles Business
>
> As the Board of Management member formerly responsible for Corporate
> Development & IT Management, Eckhard Cordes, 49, will immediately take
over> the
> responsibilities for the Commercial Vehicle Division from Dieter Zetsche.
>
> Over the last few years Cordes has played a leading role in the
restructuri> ng
> and focusing of the company around its core automotive businesses. He is
al> so
> one of the architects of the DaimlerChrysler merger and the recently
announ> ced
> Asian joint ventures and alliances with Mitsubishi Motors Corporation and
> Hyundai Motor Company respectively.
>
> Further information can be found on http://www.daimlerchrysler.com
>
> Your DaimlerChrysler IR Team
>
>
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