Word: schrempp
(lookup in dictionary)
(lookup stats)
Dates: during 1998-1998
Sort By: most recent first
(reverse)
...tough man to make a tender chicken") and, of course, Lee Iacocca. The distinguished silvery head of Iacocca's successor at Chrysler, Robert J. Eaton, is currently featured larger than life (or so we must hope) in a baffling series of newspaper ads celebrating himself and one Jurgen E. Schrempp, CEO of Daimler-Benz, as "two intuitive leaders" who had the vision to merge their companies...
...kind of cute, actually, how they came to be an item: following some small talk last year over a possible joint venture in Latin America or maybe Asia, Juergen Schrempp, 53, chairman of doughty Daimler-Benz, invited Chrysler chief Robert Eaton, 58, to spend some quiet time alone during the crowded Detroit Auto Show in January. Schrempp said he liked Chrysler a lot and suggested that maybe they should consider going...
...Schrempp and Eaton boast of major cost-cutting opportunities. For example, the two companies combined spend $7 billion on R. and D. every year. Much of the money that goes into research on, say, safety or fuel-cell technology can be put under one umbrella for savings. Economies can also be extracted from joint purchases of raw materials. "Daimler and Chrysler will maximize the number of common parts they're using for their cars," says Christian Breitsprecher, a Dusseldorf-based industry analyst. "Engines, engine control systems, transmissions, door locks, seats--you name it." As Eaton insisted to TIME, "There...
...Schrempp, who will succeed Eaton as DaimlerChrysler's chairman after the first three years, might be the kind of Mercedes executive who can bridge that gap and make this marriage work. A former apprentice mechanic, he arrived in Stuttgart in 1987 and made--and later unmade--an ill-fated deal with Dutch aerospace firm Fokker. He also did a stint at a Daimler division in Cleveland, Ohio. When Daimler fell deep in the red in the mid-'90s, he embarked on a series of American-style cost-cutting programs that reduced the work force by some...
...Schrempp and Eaton give themselves three years to integrate their new company. DaimlerChrysler has the ingredients of a good merger, but it won't be easy. The world is glutted with manufacturing capacity and doesn't need more cars--even fancy German-American ones. And the bottom line on big mergers is that they don't work. "Three years is not a very long term to integrate a culture," says Schrempp. "If we are really there after three years, then we really did a good job." And if not, Schrempp, not to mention thousands of global workers, will...