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Bob Eaton's going the wat of Plymouth!
News Article: DaimlerChrysler Co-Chair To Retire
DETROIT (AP) - DaimlerChrysler co-chairman Robert Eaton, the
former Chrysler chairman and CEO who helped orchestrate the merger
with Daimler-Benz AG, will retire from the company March 31.
DaimlerChrysler said Eaton, 59, gave the announcement to a
meeting of senior managers Wednesday, saying that "this is the
right time for me to go."
"The merger is complete," Eaton said, according to a company
statement. "The structure and future leadership is in place. The
two companies are one, my goal has been accomplished."
When Chrysler was acquired by Daimler-Benz AG in 1998, Eaton
said he would share the job of chairman with Daimler-Benz head
Juergen Schrempp for no more than three years, then retire.
Eaton had said he would retire earlier if the major hurdles of
the merger were completed.
"In the long-term, there can be only one boss," German
magazine Der Spiegel quoted Eaton as saying in 1998.
As recently as a few weeks ago, Eaton said in an interview there
was "no new news to report" about his status with the company.
Shares of DaimlerChyrsler were trading down 81 1/4 cents to $67.18 3/4
in later afternoon on the New York Stock Exchange.
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