Chrysler purge

Charles Brown CharlesB at SPAMCNCL.ci.detroit.mi.us
Tue Nov 21 08:44:58 MST 2000




Chrysler purge claims 3 more execs
Another 24 German managers headed for Auburn Hills


 By Bill Vlasic, and Daniel Howes / The Detroit News

    AUBURN HILLS -- The new German chief of the Chrysler Group ousted three more
American executives Monday and promised that "painful" steps will be taken to restore
the U.S. division to profitability.
   On his first day on the job, Dieter Zetsche demanded and received the resignations
of three executives closely tied to former Chrysler President James P. Holden, who was
fired last week by DaimlerChrysler AG Chairman Juergen Schrempp.
   Zetsche, who became Chrysler president on Friday, and Wolfgang Bernhard, who was
named chief operating officer, are expected to install a bevy of German managers.
   Executives in the United States and Germany said privately that at least 24 German
managers will be dispatched to Auburn Hills to implement Zetsche's restructuring
plans.
   "Of course, some people will come and stay for awhile," said Michael Pfister, a
DaimlerChrysler spokesman in Germany. "But I cannot confirm any number."
   Those forced out Monday were Theodor "Ted" Cunningham, the executive vice-president
of sales; Kathleen Oswald, the division's chief administrative officer and
highest-ranking woman; and Antonio "Tony" Cervone, the head of public relations who
had rejoined Chrysler just more than two months ago.
   The departures came as Zetsche and Schrempp addressed the top 400 Chrysler managers
Monday afternoon and circulated a blunt e-mail afterwards to thousands of other
employees.
   The drama of the management shake-up was underscored by the continued free-fall of
DaimlerChrysler's stock price. Company shares hit an all-time low Monday, closing at
$40.10, down $2.75 in New York trading, mirroring a similar slide in Frankfurt earlier
in the day.

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Rest of the article at : http://www.detroitnews.com/








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