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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2000
DAIMLERCHRYSLER AG
(Translation of registrant's name into English)
EPPLESTRASSE 225, 70567 STUTTGART, GERMANY
(Address of principal executive office)
[Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.]
Form 20-F X Form 40-F
[Indicate by check mark whether the registrant by furnishing the
information contained in this Form is also thereby furnishing the information to
the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.]
Yes No X
[If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- ]
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This report on Form 6-K is hereby incorporated by reference in the
registration statement on Form F-3 of DaimlerChrysler North America
Holding Corporation (Registration Statement No. 333-11306)
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DAIMLERCHRYSLER AG
FORM 6-K: TABLE OF CONTENTS
1. Press release of DaimlerChrysler AG, dated November 17, 2000, on the
Supervisory Board's approval of the new management for Chrysler Group
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DAIMLERCHRYSLER
Press Information
November 17, 2000
Contact:
Michael Pfister Phone +49-711-17-93635
Lori McTavish Phone +1-248-512-2666
SUPERVISORY BOARD APPROVES NEW MANAGEMENT FOR CHRYSLER GROUP
o DIETER ZETSCHE NEW PRESIDENT/CEO OF CHRYSLER GROUP
o INTRODUCTION OF CHIEF OPERATING OFFICER (COO) AT CHRYSLER GROUP: WOLFGANG
BERNHARD TO BE NAMED COO AND DEPUTY MEMBER OF THE DAIMLERCHRYSLER BOARD OF
MANAGEMENT
o ECKHARD CORDES NEW HEAD OF GLOBAL COMMERCIAL VEHICLES BUSINESS
STUTTGART/AUBURN HILLS - During an extraordinary meeting in Stuttgart, the
Supervisory Board of DaimlerChrysler AG, today approved Management Board
Chairman Juergen E. Schrempp's reorganization plan for the Board of Management.
As a result, Dr. Dieter Zetsche and Dr. Wolfgang Bernhard are appointed
President/CEO and COO respectively of the Chrysler Group, and will assume these
responsibilities, effective immediately.
Due to a significant shift in market conditions in the U.S., the new management
team of the Chrysler Group will fundamentally reposition and restructure the
business. This program, details of which will be announced in the first quarter
of 2001, will focus on measures to improve cost positioning, product line-up and
market performance.
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Since the announcement of the third quarter results in late October, tough
market conditions in the United States have intensified further, characterised
by ongoing competitive incentive spending, high dealer inventories and a
resultant reduction in production levels. As a consequence results at the
Chrysler Group will fall below the last forecast and thus also affect the
earnings of DaimlerChrysler AG.
The Supervisory Board and the shareholder committee strongly reaffirmed at the
meeting today its support for the global strategy of DaimlerChrysler and assured
the Management Board of its full backing concerning all necessary measures to
achieve that objective.
DIETER ZETSCHE TO HEAD CHRYSLER GROUP
Dr. Dieter Zetsche (46), member of the Board of Management responsible for the
Global Commercial Vehicles business will assume the leadership of the Chrysler
Group as President and CEO of the Chrysler Group immediately and continue to
serve as a member of the Board of Management.
Since commencing his professional career with the company in 1976, Zetsche has
held increasingly responsible management positions both domestically and
internationally. He has been Head of Development and Design of Mercedes-Benz
passenger cars and also world-wide Sales and Marketing for Mercedes-Benz
products. His international assignments have involved terms as Board Member of
Mercedes-Benz do Brasil and President of Mercedes-Benz Argentina. As President
and CEO of Freightliner, the leading U.S. commercial vehicle producer, he
achieved an impressive turn-around.
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Juergen E. Schrempp stated: "My colleague Dieter Zetsche is undertaking a very
challenging assignment heading the Chrysler Group. Given his capabilities and
his proven career track record we have no doubt that he will lead this business
back to sustained profitability. He has extensive experience in every facet of
the automotive sector."
WOLFGANG BERNHARD TO BECOME NEW COO OF THE CHRYSLER GROUP AND DEPUTY
MEMBER OF THE BOARD OF MANAGEMENT
Dr. Wolfgang Bernhard (40) will take over the newly created position of Chief
Operating Officer (COO) of the Chrysler Group. Bernhard, who has been appointed
deputy member of the Board of Management of DaimlerChrysler AG, was responsible
for the very successful launch and introduction of the new S-class and recently
became Managing Director of Mercedes-AMG.
In addition to his extensive product and development experience, Bernhard is
also an acknowledged production expert. As COO he will be responsible for all
internal operations and the implementation of initiatives necessary to
strengthen and restore the position of the Chrysler Group.
Juergen E. Schrempp commented that, "Wolfgang Bernhard in his new assignment as
COO has been given the mandate to make the restructuring measures his highest
priority. He has demonstrated in his previous position that he is a highly
competent manager with a strong empathy for his employees and a sound
understanding of market conditions."
After a thorough examination and in-depth analysis of the current situation,
the leadership team of Zetsche and Bernhard, in conjunction with Chrysler's
management and the full support of DaimlerChrysler AG will
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initiate and speed up the necessary measures for the "turn-around". The new
appointments will also accelerate the transfer of knowledge and technology
within the DaimlerChrysler Group.
Jim Holden will step down with immediate effect. We thank Jim Holden for his
many years of contribution for the company.
ECKHARD CORDES TO BECOME NEW HEAD OF GLOBAL COMMERCIAL VEHICLES
BUSINESS
As the Board of Management member formerly responsible for Corporate Development
& IT Management, Eckhard Cordes, 49, will immediately take over the
responsibilities for the Commercial Vehicle Division from Dieter Zetsche.
Over the last few years Cordes has played a leading role in the restructuring
and focusing of the company around its core automotive businesses. He is also
one of the architects of the DaimlerChrysler merger and the recently announced
Asian joint ventures and alliances with Mitsubishi Motors Corporation and
Hyundai Motor Company respectively.
Juergen E. Schrempp: "With his wide background Eckhard Cordes was
the obvious choice for this important operation."
Since joining Daimler-Benz in 1976, Cordes has spent several years in the
Commercial Vehicle Division including 1986 - 1989 with Mercedes-Benz do Brasil.
His present responsibilities on the Board will be temporarily assumed by Juergen
E. Schrempp.
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SCHREMPP REAFFIRMES U.S. COMMITMENT
Schrempp reaffirmed that, "The current reorganization will not be to the
detriment of our committment to the important NAFTA market. We will continue our
active and very dynamic investment program in our U.S. and North American
facilities."
Schrempp concluded: "With this decision we will be able to drive the integration
of our global businesses. We do this with shareholder value first and foremost
in our mind and will now be able to realize the potential synergies of our
global network even faster. Our responsibility to our investors, to our
employees and to our customers demands that we rapidly and proactively develop
the outstanding potential inherent in DaimlerChrysler."
INTERNET SITE
Additional information and news from DaimlerChrysler is available on
the Internet at: www.media.daimlerchrysler.com
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
DaimlerChrysler AG
By: /s/ ppa. Hans-Georg Bruns
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Name: Dr. Hans-Georg Bruns
Title: Vice President
Chief Accounting Officer
By: /s/ i. V. Harald Kofink
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Name: Harald Kofink
Title: Director
Date: November 17, 2000
