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Stories - USA - DaimlerChrysler under Schrempp
A look at Juergen Schrempp's tenure at DaimlerChrysler
Detroit,Mich,USA -Detroit News research -July 29, 2005: -- May 1998: Daimler and Chrysler announce the merger of the two companies, creating the world's fifth- largest carmaker. Schrempp and Eaton will serve as co-chairmen, with Eaton planning to step down within three years.
March 2003: The company completes the purchase of truck units of Mitsubishi Motors and Hyundai Motor Co. for $1.14 billion to expand in Asia.
March 2005: DaimlerChrysler recalls 1.3 million Mercedes-Benz models, the brand's largest recall ever, to fix electrical and brake system faults.
July 28, 2005: DaimlerChrysler shares rise as much as 11 percent after the company announces Schrempp will leave on Dec. 31, 2005. "DaimlerChrysler is not yet where we want it to be, but we are headed precisely in the right direction," Schrempp says. . "On a personal note, I can assure you that I'm a very happy man."
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