DaimlerChrysler AG head to step down

Jürgen E. Schrempp, chairman of the board of management for DaimlerChrysler AG, will leave the company by year’s end. Dieter Zetsche, head of Chrysler Group, will replace him as chairman, effective Jan. 1, 2006

Jürgen E. Schrempp, chairman of the board of management for DaimlerChrysler AG, will leave the company by year’s end. Dieter Zetsche, head of Chrysler Group, will replace him as chairman, effective Jan. 1, 2006.

Tom LaSorda, COO of Chrysler Group, will succeed Zetsche to head Chrysler Group. LaSorda has also been appointed to be a member of DaimlerChrysler’s board, effective immediately.

Eric Ridenour will replace LaSorda as Chrysler Group COO.

“The supervisory board and Mr. Schrempp are in full agreement that the end of the year 2005 is the optimal time for a change of leadership of the company,” said Hilmar Kopper, chairman of the supervisory board for DaimlerChrysler.

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