Cordes Out at Benz

August 18, 2005
Straight from DaimlerChrysler, folks:

The Supervisory Board of DaimlerChrysler AG today has taken the following personnel decisions:
As previously announced, Dr. Dieter Zetsche (52), at present Head of Chrysler Group, will be appointed Chairman of the Board of Management of DaimlerChrysler AG as of January 1, 2006. In addition, he will become Head of Mercedes Car Group as of September 1, 2005.

Dr. Eckhard Cordes (54), Head of Mercedes Car Group, will leave the company at his own request on August 31, 2005, after 29 years of service.

Thomas W. LaSorda (51) will become Head of Chrysler Group as of September 1, 2005. On the same date, Eric Ridenour (47) will succeed Thomas W. LaSorda as Chief Operating Officer (COO) of Chrysler Group. Ridenour has been appointed as Member of the DaimlerChrysler Board of Management for a period of three years starting on September 1, 2005.

Cordes, appointed last year to the Mercedes post, was passed over to succeed Schrempp in favor of Chrysler Group CEO Dieter Zetsche. Cordes offered his resignation, insiders say, because he felt he had lost the confidence of the board of directors. Zetsche replaces Schrempp on January 1, 2006.

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