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Chrysler loses 3 U.S. execs
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November 20, 2000: 4:32 p.m. ET
Top woman in industry, sales chief, PR head out with arrival of German boss
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NEW YORK (CNNfn) - DaimlerChrysler new German chiefs who were given control of the company's Chrysler unit Friday started making changes at the division's Detroit-area headquarters Monday, as three top U.S. executives left the company.
The three are Theodor "Ted" Cunningham, the unit's executive vice president of global sales and marketing, Chief Administrative Officer Kathleen Oswald, who was the highest ranking women in the auto industry, and Tony Cervone, head of Chrysler global communications who returned to the company from General Motors Corp. only two months ago.
 Cervone will be replaced by Ken Levy, a former spokesman for GM in Europe. Oswald's departure was termed a retirement, even though she is only 51 years old. Her position will not be continued. The departure of Cunningham, 54, was also termed a retirement. His successor will be named at a later date, the company said.
The company thanked the three for their service to the company. Ed Saenz, a Chrysler spokesman, said earlier in the day that it is "commonplace to replace top management, i.e., when Bush or Gore take over, they will have new top cabinet members."
Dieter Zetsche, the former head of DaimlerChrysler's truck division, was named president and chief executive of the Chrysler Group Friday, replacing Chrysler veteran James Holden. Another German executive, Wolfgang Bernhard, was named to fill the new post of chief operating officer of the U.S. unit.
The company also warned on Friday that Chrysler Group results would miss expectations in the fourth quarter and would hit the holding company's bottom line, although it did not give details of the shortfall.
Shares of DaimlerChrysler (DCX: Research, Estimates) fell 2.60 euros to 47.40 euros in Frankfurt trading Monday, while shares of its American depositary receipts closed down $2.75 to $40.10 in U.S. trading. 
- from staff and wire reports
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DaimlerChrysler
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