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Business

DaimlerChrysler's Zetsche to Run Mercedes

German-US auto giant DaimlerChrysler said Thursday its newly designated chief executive Dieter Zetsche is to take charge of the Mercedes Car Group on September 1. Mercedes head Eckhard Cordes will leave DaimlerChrysler "at his own request" on August 31, DaimlerChrysler added. Thomas LaSorda, currently chief operating officer at Chrysler Group, will become head of Chrysler Group on September 1. On the same date, Eric Ridenour will succeed LaSorda as COO. Ridenour has also been also appointed as a member of the DaimlerChrysler board of management from three years from September 1. Zetsche, currently head of Chrysler Group, becomes CEO of DaimlerChrysler on January 1, 2006. Sources close to the matter said Zetsche would stay on as head of Mercedes for at least one year. One source said Zetsche's appointment was not a "short-term solution."

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