|
|
 |
 |
 |
 |
   |
Jurgen E. Schrempp: Deal of the Decade
The result is DaimlerChrysler, the $94 billion deal of the decade. In one bold move, Schrempp has redefined competition in the global auto industry and kicked off a wave of consolidation. DaimlerChrysler, which is expected to have operating earnings of $7.1 billion on revenues of $155.3 billion in 1999, is already the model for pulling off a megamerger: Move swiftly and silently, settling the touchiest questions before going public. And Schrempp and Eaton are already well on the way to finding $1.4 billion in savings. The whole thing could sputter if the Mercedes name gets tarnished or if Chrysler's daring vehicle designs and speedy development cycles are hampered by methodical Germans. Fluent in English and experienced abroad, Schrempp, 54, is one of a new breed of CEOs who will manage truly global enterprises in the next century. He made his name as an aggressive cost-cutter who orchestrated a dramatic turnaround at Daimler. Other top German executives are now following his example in offering greater value for the shareholder. For now, Schrempp is co-chairman of DaimlerChrysler with Eaton. He will take over in 2001 at the latest. But as in the chess game he learned from his grandfather, Schrempp is surely planning a few moves ahead.
RELATED ITEMS
|
Updated Dec. 30, 1998 by bwwebmaster
Copyright 1999, by The McGraw-Hill Companies Inc. All rights reserved.
Terms of Use
