Ad hoc-announcement edited and sent by DGAP. The sender is solely
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Stuttgart/Auburn Hills (ots Ad hoc-Service) - 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
- During an extraordinary meeting in
Stuttgart, the Supervisory Board of DaimlerChrysler AG, today
approved Management Board Chairman Juergen E. Schrempp'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 these responsibilities, effective immediately.
Due to a significant shift in market conditions in the U.S., the
new management team of the Chrysler Group will fundamentally
reposition and restructure the business. This program, details of
which will be announced in the first quarter of 2001, will focus on
measures to improve cost positioning, product line-up and market
Since the announcement of the third quarter results in late
October, tough market conditions in the United States have
intensified further, characterised 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 Chrysler Group as President and CEO of the
Chrysler Group immediately and continue to serve as a member of the
Board of Management.
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 Chief Operating Officer (COO) of the Chrysler Group.
Bernhard, who has been appointed deputy member of the Board of
Management of DaimlerChrysler AG, was responsible for the very
successful launch and introduction of the new S-class and recently
became Managing Director of Mercedes-AMG.
As COO he will be responsible for all internal operations and the
implementation of initiatives necessary to strengthen and restore the
position 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 speed up the necessary measures
for the "turn-around". The new appointments will also accelerate the
transfer of knowledge and technology within the DaimlerChrysler
Jim Holden will step down with immediate effect. We thank Jim
Holden for his many years of contribution for the company.
Eckhard Cordes to become new head of Global Commercial Vehicles
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.
End of Message
Original-Content von: Daimler AG, übermittelt durch news aktuell