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DaimlerChrysler Managers Named

November 04, 1998| From Reuters

DETROIT — Chrysler Corp. and Germany's Daimler-Benz on Tuesday ended the suspense for more than 40 top managers by spelling out their new titles and responsibilities at the combined automotive giant.

In a joint statement distributed to all 430,000 employees, the No. 3 U.S. auto maker and German luxury car maker provided details on who will run the support staff, finance, corporate management and procurement and supplies departments, sources said.

The new titles were almost evenly divided between Chrysler and Daimler executives, following the same pattern set for top-tier positions when the two companies first announced their $42-billion merger in May. Only one executive at each firm will switch locations at this time.

The companies expect to complete the merger the week of Nov. 16, creating DaimlerChrysler, the world's fifth-largest auto maker.

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