today announced it will reorganize its automotive operations to give the American side more autonomy.
"After a year of working together, DaimlerChrysler has concluded that its automotive businesses can best function as individual divisions of DaimlerChrysler A.G.," Jim Holden, president of DaimlerChrysler Corp., said in a news release.
The company has three divisions responsible for
cars and trucks, and commercial vehicles. Internal promotions and reassignments were made today at the American division responsible for Chrysler.
"It really looks like the German side trying to appease the American side," said Dennis Virag, president of the
Automotive Consulting Group
, an Ann Arbor, Mich.-based consulting firm, which does not currently have DaimlerChrysler as a client. "There's been a lot of concern about the Germans interfering. It's an indication from Daimler that 'we're not going to tamper'" with Chrysler's operations.
Shares of DaimlerChrysler were up 1/2, or 1%, to 78 in midday trading.