Reuters reports that Daimler CEO Dieter Zetsche (pictured) isn't quite ready to hand over the keys to the Mercedes-Benz kingdom. Zetsche currently serves as the head of both Daimler and Mercedes-Benz, and investors had hoped that the CEO would begin grooming his second in command, Wolfgang Bernhard, to take over at the German automaker. That doesn't look to be happening any time soon, however, even though Zetsche's contract runs out at the end of 2013. According to the report, the CEO maintains
There's no question that Wolfgang Bernhard is well liked by the boys at Daimler. In fact, rumor has it that he's currently being groomed (for the second time, actually) to take the reins at Daimler's Mercedes-Benz automotive unit. If you believe the rumors, the only real question is when Bernhard will take over from current head Dieter Zetsche.
The prodigal son returns. As with the Biblical parable, a well-loved son (ably played in real life by Wolfgang Bernhard) leaves the comfort of home (Bernhard previously served as Daimler CEO Dieter Zetsche's second in command) and embarks on a journey away from his family.
Wolfgang Bernhard is coming back to Daimler. The man who helped facilitate the sale of Chrysler to Cerebus, was instrumental in the Chrysler ME Four-Twelve supercar concept, and, most notably, the guy that drove the V10-powered Tomahawk motorcycle onto the stage at the 2003 Detroit Auto Show, will take over the van division of Mercedes-Benz on April 1st.
This is the man who brought the world the Dodge Tomahawk and advised the three-headed dog in its acquisition of Chrysler from the Germans. Former Chrysler Chief Operating Officer Wolfgang Bernhard is apparently working in an advisory role to Magna International at is tries to find its way through the morass that is today's auto industry. Automotive News reports that Bernhard is currently focusing on Magna's Russian business. More than half of Magna's business is currently with U.S.-based automak
With Cerberus Capital Management just about to wrap up its purchase of Chrysler Group, it's interesting to see what the private-equity firm has in store for the No. 3 U.S. automaker. This Detroit News article shows very clearly that Cerberus isn't about to sit back and wait for results. In fact, Cerberus consultant/Chrysler head Wolfgang Bernhard is already taking the bull by the horns and doing what he does best, pushing edgy design and controlling costs. A good example was the final review for
We tried hard to get a podcast going last week, but it just wasn't good enough. This week, the internet gods smiled on us with solid connections that cleared the way for our incisor-sharp banter. Kicking off #72, we discuss the dual surprise from Ford and GM - profit! The US operations showed losses, but overseas branches pulled in the dough, and as Alex points out "money is money." Moving on to less dull subjects, the MINI Clubman was officially unveiled, and it seems like all of the growth is
According to a German magazine referenced by Automotive News, Wolfgang Bernhard is expected to be announced as the Chrysler Group's chairman-in-waiting, pending DaimlerChrysler's sale of the automaker to Cerberus Capital Management. Currently Bernhard is an acting advisor, a consultant if you will, for Cerberus, and spends his days at Chrysler's Auburn Hills headquarters, presumably gathering info for Cerberus on what aspects of the business need the German exec's magic touch the most. When the
Immediately following the sale of Chrysler to Cerberus, people began speculating on what role former Chrysler exec Wolfgang Bernhard would take up in the newly minted Chrysler Corp. Even we jumped on the bandwagon and suggested Bernhard, who had been hired on by Cerberus to advise the sale, would be a likely replacement for Tom LaSorda if the automaker's current CEO couldn't turn around the company's fortune. The Wall Street Journal is reporting, however, that Bernhard will act as a high-level a
There aren't that many people in the world who have a stronger emotional connection to Chrysler Corp. than Lee Iacocca, father of the minivan and savior for Chrysler during the early '80s. In an article featured in BusinessWeek, Iacocca reveals his feelings and thoughts about Daimler AG's sale of Chrysler to Cerberus Capital Managment, a private equity firm.
The newly minted Chrysler Corp. held its first press conference today and carryover CEO Tom LaSorda made it clear that all of Chrysler's brands will be kept together after the sale to Cerberus Capital Management goes through. Many have been wondering if Cerberus would pull an Edward Lewis à la Pretty Woman and break up the automaker, selling off its pieces for profit. LaSorda says that won't happen, and in addition his company and Daimler AG will continue to work together in areas such as
Now that the new Chrysler Corp. has been created by Daimler AG selling a majority stake in the company to Cerberus Capital Management, the next question is who is in charge? In recent weeks, former Chrysler group chief operating officer Wolfgang Bernhard has been quite conspicuous in the halls of Chrysler's Auburn Hills headquarters. However, the announcement made clear that the current Chrysler management team led by Tom LaSorda would stay in place, at least for now.
Rumors have been flying around about which companies and/or equity groups are interested in purchasing the Chrysler Group. Buyout firm Cerberus has shown it is definitely in the running by hiring former Chrysler COO Wolfgang Bernhard as a consultant. Bernhard could be an asset to Cerberus since he knows Chrysler's strengths and weaknesses and was one of the architects of Chrysler's last restructuring and short-lived resurgence in the new milennium.
Former Chrysler Group Chief Operating Officer Wolfgang Bernhard (shown above in 2002 with DaimlerChrysler CEO Dieter Zetsche) is apparently taking advantage of his inner circle knowledge of the Auburn Hills-based automaker. In order to keep busy since leaving his post as the head of Volkswagen, Bernhard is reportedly acting as an adviser to one or more of the groups that are contemplating acquiring Chrysler from Daimler. When talk of Magna International making a bid first surfaced a couple of we