Now, successor Dieter Zetsche must regain the trust of investors and customers alike if he
Dieter zetsche wife sexual dysfunction to turn the troubled giant around. An organized change in leadership in Germany's largest corporation goes something like this: Schrempp will be leaving the company effective Dec. This is the kind of language that's generally used to inform the public that a company's management has fired a chief executive.
Schrempp won't be receiving a golden parachute, nor will he be paid out through the end of his contract, which otherwise wouldn't expire until April and he won't be given a seat on DaimlerChrysler's supervisory board. Moreover, the letter of termination to Schrempp, chief executive officer for 17 years -- first at aerospace subsidiary DASA and, sinceat Daimler-Benz and its later reincarnation DaimlerChrysler -- made no mention of the company's appreciation of his work.
This is usually the approach a company takes when an executive is let go for personal failings. At a meeting of the company's supervisory board, Schrempp's designated successor, Chrysler Group CEO Dieter Zetsche, instead thanked the members of the board for their confidence in him. Until then, he had been the company's second-in-command, next to Schrempp, after having assumed the task, less than a year ago, of leading Mercedes-Benz out of its crisis.
In fact, Cordes was seen as the leading candidate to take over Schrempp's position. But on Thursday morning, Cordes asked the board members to release him from his contract as of year's end.
Shareholder Value" -- Schrempp held a telephone conference to respond to analysts' questions. Schrempp himself described his departure as a "masterpiece," "Dieter zetsche wife sexual dysfunction" that "the timing was excellent. The speculations triggered by his departure are likely to come as a surprise to someone with such a distorted perception of reality.
Was it time for Schrempp to go because he had secretly invested in South African companies? Nonsense, says a company spokesperson. And what about the suicide of DaimlerChrysler executive K. The company spokesperson says that while the suicide did occur, everything else is pure speculation.
A more likely explanation for Schrempp's departure can be found with Deutsche Bank, which had wanted to sell its shares in DaimlerChrysler for some time, but not at the low price to which shares had declined as a result of Schrempp's strategy. Harsh criticism coming from shareholders probably also has something to do with it. And then there is the possibility that Schrempp wants to spend more time with his youngest son, now four months old. Of course, one reason for his turbulent exit lies in past power struggles, in which Schrempp, Zetsche and Cordes were at times allies and at times adversaries.
Schrempp wanted to deprive Werner of some of his power, a difficult proposition, because Werner was a highly effective manager.
Schrempp, teaming up with Cordes, developed plans for a restructuring of the group that would involve the merger of Daimler-Benz and Mercedes-Benz, making Werner's position redundant.
But Schrempp and Cordes would not have been able to pull off the merger without the support of the entire executive leadership at Mercedes-Benz. They got their way when Zetsche, then Sales and Marketing Director at Mercedes, as well as two other senior executives backed Schrempp and supported the merger.
Werner, isolated, left the group, and from then on Zetsche was viewed as a Schrempp ally. Zetsche, born in Istanbul and raised in Frankfurt, had previously worked for the group in Brazil, Argentina and the United States. He was head of development, sales and marketing at Mercedes-Benz, and critics charged fast-tracker Zetsche with dashing up the corporate ladder by using what they called the helicopter principle: The man with the powerful moustache had little time or concern for these kinds of accusations.
Zetsche is direct, affable and uncomplicated, an executive who plays an electric guitar at the Geneva Auto Show and pours beer for his guests at the Detroit Motor Show. Zetsche knows how to win people over, even when it means making tough decisions. To Schrempp, he seemed the perfect choice when he needed Dieter zetsche wife sexual dysfunction to clean house at Chrysler in The merger partner, with which Schrempp planned to build a global Dieter zetsche wife sexual dysfunction, had turned out to be a company in crisis, bringing DaimlerChrysler billions in losses.
Zetsche's job was to solve Chrysler's problems and cover for Schrempp, who had come under fire for supporting the failed merger in the first place. Meanwhile, back at DaimlerChrysler headquarters in Stuttgart, Cordes was unhappy with the business he had taken over from Zetsche.
According to Cordes, the commercial vehicle unit Zetsche had previously managed was in need of restructuring, the alliance with Caterpillar -- Zetsche's doing -- had failed, and the company's acquisition of Detroit Diesel had been a mistake. From then on it was clear that Zetsche and Cordes would be competing for Schrempp's job in the future. In the United States, Zetsche's first achievement was to defuse American prejudices against Chrysler's new German bosses.
But this didn't make the restructuring any easier. Chrysler closed or sold six plants and cut 26, jobs. Wolfgang Bernhard, who had been sent to the United States with Zetsche, often assumed the role of the bad guy, the man who demanded the biggest sacrifices, while Zetsche devoted his energies to new models and to sales. While at Chrysler, Zetsche also defused the notion that his only role was to put out fires.
In just under five years as head of the US carmaker, Zetsche improved vehicle quality and productivity at Chrysler's plants -- so much so that they are now more productive than Mercedes-Benz factories. Everything was going swimmingly, for Zetsche, who was practically worshiped as a hero in "Dieter zetsche wife sexual dysfunction" United States, and for Schrempp, who urgently needed Zetsche to succeed, as DaimlerChrysler began running into problems elsewhere.
The Japanese arm of Schrempp's global Mitsubishi, had plunged into the red. But the supervisory board extended Schrempp's contract on the same day, unintentionally laying the groundwork for the current discussion surrounding Schrempp's departure. Supervisory board chairman, Hilmar Kopper, of Deutsche Bank and Central Works Council chairman, Erich Klemm, agreed that Schrempp would only run the group two or three more years, at which point he would turn over the reins to a successor, and Schrempp agreed with their plan.
But the board Dieter zetsche wife sexual dysfunction had a problem. If they just offered the CEO a two-year contract, the discussion over his possible successor would have resumed again after only one year.
Instead, they gave Schrempp a four-year contract through April and, in return, Schrempp promised that he would resign voluntarily before the contract expired and that he would not insist on being paid his remaining salary. Schrempp was in favor of the investment, and so was his friend Cordes. But a number of members of the DaimlerChrysler board were concerned that the investment, and possibly future financial commitments, could jeopardize the entire group.
To address these concerns, the board members, invited by Zetsche's deputy, Bernhard, met in Zetsche's Stuttgart office a few days before the slated decision. The eight executives attending the meeting agreed that there was one thing they wanted to prevent: Of course, everyone present must have known that Schrempp would perceive their actions as a revolt against him.
When the US executive then launched into lengthy explanations and seemed to be on the verge of capitulating, at least from the perspective of Schrempp's remaining critics, Bernhard interpreted Sidlik and told Schrempp that he might as well skip the vote, because all eight remaining board members were against the bailout.
And then he asked the group, one by one, beginning with Zetsche, what they thought of the idea. The outcome was clear: Many board members expected Schrempp to resign in the wake of this setback.
Schrempp, joined by Cordes and Grube, said that he would be available "Dieter zetsche wife sexual dysfunction" the head of the supervisory board for a one-on-one discussion. But, as Schrempp later stressed, he never offered to resign.
Instead, Bernhard was forced to resign, and Zetsche, who Schrempp's supporters saw as the instigator of the revolt, was promptly when it came to his career at DaimlerChrysler.
It was on that day, or perhaps even earlier, that Cordes and Zetsche became adversaries. Cordes felt safe in the assumption that he had captured an unbeatable lead in the race to succeed Schrempp. The fact that everything turned out differently can also be attributed to problems at the Mercedes Car Group, which "Dieter zetsche wife sexual dysfunction" includes the Smart and Maybach divisions, where the crisis is far deeper than it seemed at first.
Dieter zetsche wife sexual dysfunction have cut to the core of the Mercedes-Benz brand name. If the car with the Mercedes star on its hood is no better, and in many cases worse, than its competitors, an Dieter zetsche wife sexual dysfunction reason for many customers to buy a Mercedes falls by the wayside, leading to a decline in sales.
Mercedes' sales in Germany have dropped 8 percent in the first six months of this year. To make matters worse, customers who are still buying Mercedes vehicles are demanding, and often getting, hefty discounts.
The unit is still creating huge headaches for DaimlerChrysler. Job cuts at Mercedes-Benz could be just as costly. Because DaimlerChrysler agreed to forego business-related layoffs untilit will only be able to cut an estimated 5, jobs in Germany by offering generous severance packages -- and that's bad news for CEO Schrempp, since such a move would further cut into DaimlerChrysler's earnings in the coming years.
After the April shareholder meeting, Schrempp had his first conversation with close friend Kopper about the possibility of resigning as CEO before his contract expires. He said he sensed that Schrempp himself was gradually warming to the idea of leaving, especially after being forced to listen to sharp criticism of his wife's performance at DaimlerChrysler.
Supervisory board chairman Klemm was later brought into the conversation, which then turned to the most appropriate timing for Schrempp's resignation and finding a suitable successor. The men agreed that the process was to be quick and that lengthy transitional periods were to be avoided, only further reducing prospects for Cordes, who had just begun his new position at Mercedes-Benz. Until as recently as last Wednesday, Cordes himself believed that he was the board's top pick for CEO.
But by that evening, Schrempp and Kopper had told Cordes that Schrempp's resignation would take effect at the end of the year, and that his rival, Zetsche, would then take over the position.
Cordes immediately demanded that his contract be cancelled, despite Schrempp and Kopper's attempts to convince him otherwise.
For Cordes, Dieter zetsche wife sexual dysfunction had long been clear that he would leave the company if rival Zetsche were to prevail -- and vice-versa.
But the supervisory board was unprepared for this outcome, leaving it unable to present a successor for Cordes and putting Mercedes in an uncomfortable position. The press release, written by Schrempp himself, has turned the plan that Kopper, Schrempp and Klemm had worked out into a fiasco. It creates the impression that Schrempp was fired, an outcome that took the three men completely by surprise.
Even the fact that Schrempp isn't insisting on being paid his full salary until his contract expires seems to suggest that the DaimlerChrysler CEO was let go for dishonorable reasons, even though this was precisely what he had promised when his contract was extended.
And, says Kopper, the company is grateful to Schrempp, even though Schrempp himself didn't want any words of appreciation to be included in his letter of termination. When Schrempp leaves DaimlerChrysler on Dec. That was exactly what DaimlerChrysler employees and shareholders did,
Dieter zetsche wife sexual dysfunction their own way, last Thursday.
And Mercedes-Benz employees interviewed by the media in Sindelfingen expressed their relief. By Dietmar Hawranek Dietmar Hawranek. Die Homepage wurde aktualisiert. Now, successor Dieter Zetsche must regain the trust of investors and Fitness · Psychologie · Sex & Partnerschaft · Schwangerschaft & Kind.
Zetsche's job was to solve Chrysler's problems and cover for Schrempp, who had. forced to listen to sharp criticism of his wife's performance at DaimlerChrysler. race between Mr. Cordes and the head of Chrysler, Dieter Zetsche.
Still, no amount of cost-cutting or new cars can solve problems like the. His wife of 54 years, Camille, was not in court. a mental disorder characterized Dieter zetsche wife sexual dysfunction an uncontrollable urge to have sex with women without their consent. Automaker Daimler says that CEO Dieter Zetsche will be succeeded.