Ads
August 26, 2005
Hedge Funds excited about management changes in DaimlerChrysler
Hedge Funds have become a force that no one can afford to ignore. They are beginning to control companies in such a way so as to literally bulldoze them to bow down to their demands. Recent estimates indicate that hedge funds control over 20% stake in DaimlerChrysler, the auto giant. Apparently the stake increased after there was a change in the top management. Juergen Schrempp Chief Executive of DaimlerChrysler, will be stepping down by the end of the year.
His place will be taken by Dieter Zetsche, who is the Division Chief for DaimlerChrysler. Apart from management change, it is known that a major stake holder Deutsche Bank has also reportedly decreased it’s stake in the company. Hedge Funds are apparently happy about the change at the top level and are determined to make it happen, hence the unusual interest in the company. Hedgeco.net reports:
“More hedge fund interest in the firm resulted from surprise news that Juergen Schrempp is stepping down as the Chief Executive of DaimlerChrysler effective at the end of the year.”
Read More: Management Changes in DaimlerChrysler Lure More Hedge Fund Interest
--
Did you enjoy this post?
Comments
Post a comment
« Thames River Capital’s two ‘core’ funds of hedge funds awarded an A Rating by Standard and Poor's | Main | Commerzbank’s share prices zoom after hedge funds increase stake »
Syndicate
Comments