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DC puts Eckrodt in MMC driving seat

DaimlerChrysler has appointed Rolf Eckrodt as president and chief executive of Mitsubishi Motors Corp. (MMC), cementing its hold over the Japanese manufacturer. The move comes despite repeated claims by outgoing CEO Takashi Sonobe he would retain operational control.

However DaimlerChrysler is keen to dispel rumours that the move signals a change in its strategy. “We emphasize that the plan to elevate Rolf Eckrodt will not result in stronger DaimlerChrysler involvement in MMC. Daimler- Chrysler's 37.3% stake in MMC, as well as its minority representation on the board, means that this investment will continue to be reflected in DaimlerChrysler's accounts 'at equity',” says a spokesman.

“We believe this move will lead to a more focused concentration of responsibilities among MMC's top management. DaimlerChrysler has every confidence that the new chief executive and his team will expedite MMC's turnaround process.”

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