Spotlight shines on Schrempp

Article Abstract:

DaimlerChrysler CEO Juergen Schrempp is facing his toughest challenge since he engineered the merger of Daimler-Benz and Chrysler in 1998. The issues confronting the company include a shareholder lawsuit, tumbling stock prices and a money-losing unit. Nervous shareholders and Chrysler's mounting US losses spell trouble for Schrempp. Analysts believe that the issues may ultimately lead to a change in management at the top, including Schrempp. However, Hilmar Kopper, DaimlerChrysler's supervisory board chairman, expressed his complete confidence in Schrempp .

DaimlerChrysler AG

---

Leader, product woes crunch Chrysler

Article Abstract:

Chrysler is besieged with labor problems, falling sales and nervous investors. The swing from tantalizing highs to crippling lows has been the trend for the automaker since its merger with Daimler-Benz. Chrysler has suffered from weak products facing intense competition and management turnover. The demoralization in its workforce stems from the executive shuffle which has continued since the merger. Another factor is Chrysler's aging product line whose average age is 3.6 years.

Strategy & planning

---

Chrysler president expected to step down this week

Article Abstract:

Chrysler Pres James Holden is expected to resign in Nov 2000. His resignation is due to the automaker's dismal performance in the US market and the German management's dissatisfaction over his inability to manage a turnaround. Dieter Zetsche, head of parent DaimlerChrysler's heavy-truck unit, is replacing Holden. The changes are expected to be approved by DaimlerChrysler's supervisory board which will meet in Stutgart, Germany, on Nov 17, 2000.

Similar abstracts:

• Abstracts: Food sales drive 'terrific' earnings for Wal-Mart. Net provides clearance aisle. Lands' End earnings land below par
• Abstracts: E-mail nudges aside stationery stores. Envelope makers craft products with eye to security
• Abstracts: Funds might have to be clearer on fees. Her star is rising at American Century. Her mission: increase African-American investing
• Abstracts: Bentley gets buyers' hearts racing. Tiremaker babies consumers
• Abstracts: More dot-coms start charging for what was once free. Web-hosting industry burned by dot-com woes

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.