Mercedes unit lead sells company stock

There were talks of insider trading going on at DaimlerChrysler when Mercedes unit lead Eckhard Cordes sold stock in the company valued at $4.47 million. The sale occurred on July 29, a day after the DCX choose Dieter Zetsche to succeed Juergen Shrempp as CEO. We are willing to bet that the two events are related. Speculation is that Cordes may be planning to leave, which would make sense. Cordes may be upset that he was passed over for the CEO slot, but honestly Mercedes’ performance lately has not benefited DCX the way Chrysler’s has. Cordes joined the company as a management trainee in 1976. He has lead Mercedes since 2004.

By randall.halcomb@gmail.com
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There were talks of insider trading going on at DaimlerChrysler when Mercedes unit lead Eckhard Cordes sold stock in
the company valued at $4.47 million. The sale occurred on July 29, a day after the DCX choose Dieter Zetsche to succeed
Juergen Shrempp as CEO. We are willing to bet that the two events are related. Speculation is that Cordes may be
planning to leave, which would make sense. Cordes may be upset that he was passed over for the CEO slot, but honestly
Mercedes’ performance lately has not benefited DCX the way Chrysler’s has. Cordes joined the company as a management
trainee in 1976. He has lead Mercedes since 2004.