FEBRUARY 7, 2003
DaimlerChrysler becomes more German
DaimlerChrysler, the company which owns Mercedes-Benz, has revamped its management board leaving just one American executive on the board. The 14-man board is now dominated by the Germans, an indication that the supposed merger between Daimler-Benz and Chrysler was, as critics said at the time, a takeover of the company. The changes to the board see the retirement of three of the older members Manfred Bischoff, Klaus Mangold and Gary C Valade. The most significant thing was that Eckhard Cordes (in charge of commercial vehicles) and Dieter Zetsche (the boss of Chrysler), one of whom is expected to replaced chairman Jurgen Schrempp in the future have both had their contracts extended. Schrempp's contract ends in 2005.
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