NEWSFLASH! Juergen Schrempp offers resignation to DaimlerChrysler!
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NEWSFLASH! Juergen Schrempp offers resignation to DaimlerChrysler!
The story should be up pretty soon, it's already at Automotive News.
It seems the Board of Directors no longer agrees with his global goals for the company, and 8 out of 10 voted against him regarding the Mitsubishi bailout (he attempted to get them to go along with saving Mitsubishi).
No word yet on the Board accepting his resignation, though I suspect they will.
It seems the Board of Directors no longer agrees with his global goals for the company, and 8 out of 10 voted against him regarding the Mitsubishi bailout (he attempted to get them to go along with saving Mitsubishi).
No word yet on the Board accepting his resignation, though I suspect they will.
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Last edited by mastrdrver; Apr 30, 2004 at 03:34 AM.
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Re: NEWSFLASH! Juergen Schrempp offers resignation to DaimlerChrysler!
Originally posted by uluz28
They voted AGAINST the bailout according to Guion's post...
They voted AGAINST the bailout according to Guion's post...
Originally posted by guionM
(he attempted to get them to go along with saving Mitsubishi).
(he attempted to get them to go along with saving Mitsubishi).
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From: Hebron, KY
What about this recently posted article?
http://www.detnews.com/2004/autosins...a01-137406.htm
http://www.detnews.com/2004/autosins...a01-137406.htm
All three offered last week to resign, according to the Frankfurter Allgemeine Zeitung. But some supervisory board members moved to quash rumors, with one director, Erich Klemm, telling the German business newspaper Handelsblatt that he saw no reason to reconsider Schrempp’s contract extension.
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Read about this yesterday after seeing Z284ever's thread and link. I saw the peice on his proposed resignation.
I suspect Schrempp could land on his feet inside Mitsubishi if he chose to try it. Kind of like Iacocca did in Chrysler back in '83. Schrempp has some big $ supporters around the world, and he knows it. He also wagered for DCM to buy Nissan back when they were in trouble, but the stockholders and the board voted not to - now Nissan is turning some great profits. So he seems to have an eye for spotting opportunity.
My more immediate question is this new "insurgency" from shareholders and top management at DCM... they seem to be wanting a new direction for DCM as a whole. So what will this do to the SRT program funding, the HEMI engine campaigns, and the performance group? Will the new, more conservative approach to DCM management put the 86 on these programs? We could see some big changes in the next few years if it does.
I suspect Schrempp could land on his feet inside Mitsubishi if he chose to try it. Kind of like Iacocca did in Chrysler back in '83. Schrempp has some big $ supporters around the world, and he knows it. He also wagered for DCM to buy Nissan back when they were in trouble, but the stockholders and the board voted not to - now Nissan is turning some great profits. So he seems to have an eye for spotting opportunity.
My more immediate question is this new "insurgency" from shareholders and top management at DCM... they seem to be wanting a new direction for DCM as a whole. So what will this do to the SRT program funding, the HEMI engine campaigns, and the performance group? Will the new, more conservative approach to DCM management put the 86 on these programs? We could see some big changes in the next few years if it does.
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Originally posted by Meccadeth
Any word yet on why exactly they bailed out of Mitsu? And do you know who the other person was that agreed with him to keep stock in Mitsu?
Any word yet on why exactly they bailed out of Mitsu? And do you know who the other person was that agreed with him to keep stock in Mitsu?
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Originally posted by uluz28
Maybe I'm confused, but I interpreted Guion's post as saying 8 of 10 voted against bailing out Mitsu (something that Schrempp voted FOR). Therefore, that would imply that the majority voted against bailing them out. To answer your question...they did NOT bail them out...
Maybe I'm confused, but I interpreted Guion's post as saying 8 of 10 voted against bailing out Mitsu (something that Schrempp voted FOR). Therefore, that would imply that the majority voted against bailing them out. To answer your question...they did NOT bail them out...
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From: Lexington, KY
You're right...I'm an idiot. Sorry Meccadeath...
I read his first question as "Any word yet on why exactly they bailed out Mitsu?"
Well, I officially hijacked this thread. Sorry gents....carry on.
I read his first question as "Any word yet on why exactly they bailed out Mitsu?"
Well, I officially hijacked this thread. Sorry gents....carry on.
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From: Hebron, KY
I think there's some confusion about this. I've read that he's offered his resignation, but not had anything but support form the board.
Here's another related story:
http://www.autoweek.com/cat_content...._code=03323105
Here's another related story:
http://www.autoweek.com/cat_content...._code=03323105
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