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Management reshuffle planned at DaimlerChrysler

DaimlerChrysler is understood to be preparing for a shake-up of its senior management team which will see the creation of an executive automotive committee headed by group chairman Jurgen Schrempp.

According to today's Financial Times, the new committee will replace DaimlerChrysler's separate automotive, sales and marketing councils and is the latest stage in the overhaul of the company which will involve 26,000 job losses and six plant closures at Chrysler, cost-cutting at Mitsubishi and a new model strategy.

Details of the reshuffle will be revealed on Monday when the group announces its full-year results, although it has already said underlying profits had fallen 49% to £1.68 billion year-on-year.

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