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Daimler to oust U.S. leader
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September 23, 1999: 9:07 a.m. ET
North American president seen as senior victim in management purge
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LONDON (CNNfn) - DaimlerChrysler is set to oust one of its most senior U.S. managers in a boardroom reshuffle Friday, according to company sources.
An unnamed source confirmed to Reuters that German media reports suggesting the firm's North American president, Thomas Stallkamp, would become the most senior victim of a management purge were "true in substance."
He is expected to be joined on the way out by Latin American sales chief Theodor Cunningham, another former Chrysler manager, according to German media reports.
Two other senior managers will also be shown the door, although the company will wait until early October to announce the board changes. The supervisory board is due to meet Friday to finalize the restructuring.
The company official also confirmed to Reuters that, despite earlier reports to the contrary, the firm's German chief financial officer, Manfred Gentz, would remain in his post.
The revelation will increase speculation of a widening rift between the company's German and U.S. management. Stallkamp was one of the main architects behind Chrysler's rebound from the brink of bankruptcy in the early 1980s.
Stallkamp is at loggerheads with DaimlerChrysler's chief executive, Jürgen Schrempp, over the pace of integration between the two companies, which merged last year in a $42 billion deal.
The U.S. car chief is seen as the chief guarantor of the carmaker's U.S. interests, and is seen as opposing the fast-track merger process backed by Schrempp.
The company said last month that it planned to reduce the number of places on its 17-member board to between 10 and 13, but since then has refused to comment on any of the reports on the changes.
-- from staff and wire reports
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DaimlerChrysler
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