Jürgen Erich Schrempp (born September 15, 1944, in

Freiburg Freiburg im Breisgau (; abbreviated as Freiburg i. Br. or Freiburg i. B.; Low Alemannic: ''Friburg im Brisgau''), commonly referred to as Freiburg, is an independent city in Baden-Württemberg, Germany. With a population of about 230,000 (as o ...

) was the

CEO A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

of Daimler-Benz from May 1995 to December 31, 2005, which became DaimlerChrysler, a

German German(s) may refer to: * Germany (of or related to) **Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ger ...

American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, pe ...

car and truck manufacturer. Following a decision of the board taken on July 28, 2005, he was succeeded on January 1, 2006, by

Chrysler Stellantis North America (officially FCA US and formerly Chrysler ()) is one of the " Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. It is the American subsidiary of the multinational automoti ...

frontman

Dieter Zetsche Dieter Zetsche (; born on 5 May 1953) is a German engineer and business executive. He is the chairman of TUI AG. He was the chairman of the board of management of Daimler AG and head of Mercedes-Benz until 22 May 2019, a role he had held since 200 ...

. Schrempp was the architect of the merger joint venture between Daimler Benz and Chrysler, which ultimately ended in failure when Chrysler was sold in 2007.

Career

During his tenure,

Daimler-Benz The Mercedes-Benz Group Aktiengesellschaft, AG (previously named Daimler-Benz, DaimlerChrysler and Daimler) is a German Multinational corporation, multinational automotive corporation headquartered in Stuttgart, Baden-Württemberg, Germany. It ...

made the 80% acquisition of the

Chrysler Corporation Stellantis North America (officially FCA US and formerly Chrysler ()) is one of the " Big Three" automobile manufacturers in the United States, headquartered in Auburn Hills, Michigan. It is the American subsidiary of the multinational automoti ...

to become DaimlerChrysler. Schrempp called the merger a "match made in heaven". In addition to the acquisition of Chrysler, Schrempp pursued the acquisition of

Mitsubishi Motors is a Japanese multinational automobile manufacturer headquartered in Minato, Tokyo, Japan.Mitsubishi The is a group of autonomous Japanese multinational companies in a variety of industries. Founded by Yatarō Iwasaki in 1870, the Mitsubishi Group historically descended from the Mitsubishi zaibatsu, a unified company which existed from 1870 ...

keiretsu A is a set of companies with interlocking business relationships and shareholdings. In the legal sense, it is a type of informal business group that are loosely organized alliances within the social world of Japan's business community. The ''ke ...

'' to assist Daimler in funding its operation. The German company eventually walked away with substantial losses. On 14 May 2007, Daimler sold 80% of Chrysler to the private equity firm Cerberus. Before becoming the CEO of Daimler-Benz in 1995, Schrempp headed the aerospace division of Daimler-Benz, then called

DASA ''Dasa'' ( sa, दास, Dāsa) is a Sanskrit word found in ancient Indian texts such as the ''Rigveda'' and ''Arthasastra''. It usually means "enemy" or "servant" but ''dasa'', or ''das'', also means a "servant of God", "devotee," "votary" or "o ...

, which is

EADS Airbus SE (; ; ; ) is a European multinational aerospace corporation. Airbus designs, manufactures and sells civil and military aerospace products worldwide and manufactures aircraft throughout the world. The company has three divisions: '' ...

today. DASA acquired the

Dutch Dutch commonly refers to: * Something of, from, or related to the Netherlands * Dutch people () * Dutch language () Dutch may also refer to: Places * Dutch, West Virginia, a community in the United States * Pennsylvania Dutch Country People E ...

aircraft manufacturer

Fokker Fokker was a Dutch aircraft manufacturer named after its founder, Anthony Fokker. The company operated under several different names. It was founded in 1912 in Berlin, Germany, and became famous for its fighter aircraft in World War I. In 1919 ...

that was already in difficulty in 1993 after it signed a contract stating the intention to take Fokker over on October 30, 1992. Schrempp called Fokker his "love baby". On January 22, 1996, after having subsidized the losses of Fokker with billions of Deutsche Marks, Daimler-Benz decided to stop putting more money into Fokker, and the firm subsequently went bankrupt. Schrempp is a Director of South African Coal, Oil and Gas Corporation Ltd., and Compagnie Financière Richemont S.A.,

Switzerland ). Swiss law does not designate a ''capital'' as such, but the federal parliament and government are installed in Bern, while other federal institutions, such as the federal courts, are in other cities (Bellinzona, Lausanne, Luzern, Neuchâtel ...

. Additional engagements include the Chairmanship of United Global Academy - UGA, the advisory board of

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

, the European Advisory Board of Harvard Business School, and the German Council of

INSEAD INSEAD, a contraction of "Institut Européen d'Administration des Affaires" () is a non-profit business school that maintains campuses in Europe ( Fontainebleau, France), Asia (Singapore), the Middle East (Abu Dhabi, UAE), and North America (San ...

. He is also on the board of

Transnet Transnet SOC Ltd is a large South African rail, port and pipeline company, headquartered in the Carlton Centre in Johannesburg. It was formed as a limited company on 1 April 1990. A majority of the company's stock is owned by the Department ...

. He was previously a non-executive director of

Vodafone Group Vodafone Group plc () is a British multinational telecommunications company. Its registered office and global headquarters are in Newbury, Berkshire, England. It predominantly operates services in Asia, Africa, Europe, and Oceania. , Vodafon ...

plc, after their 2000 take over of Mannesman Group. He is a former member of the Steering Committee of the Bilderberg Group.

Recognition

Schrempp is the recipient of: * Cross of the Order of Merit of the

Federal Republic of Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated between ...

* Bavarian Order of Merit * Medal of Merit of the Federal State of Baden-Württemberg * Commander of the National Order of Merit of the

French Republic France (), officially the French Republic ( ), is a country primarily located in Western Europe. It also comprises of overseas regions and territories in the Americas and the Atlantic, Pacific and Indian Oceans. Its metropolitan area ...

* Commander of the French

Legion of Honour The National Order of the Legion of Honour (french: Ordre national de la Légion d'honneur), formerly the Royal Order of the Legion of Honour ('), is the highest French order of merit, both military and civil. Established in 1802 by Napoleon, ...

* The

Vatican City Vatican City (), officially the Vatican City State ( it, Stato della Città del Vaticano; la, Status Civitatis Vaticanae),—' * german: Vatikanstadt, cf. '—' (in Austria: ') * pl, Miasto Watykańskie, cf. '—' * pt, Cidade do Vati ...

’s Cross of the St. Gregorius Order *

Austria Austria, , bar, Östareich officially the Republic of Austria, is a country in the southern part of Central Europe, lying in the Eastern Alps. It is a federation of nine states, one of which is the capital, Vienna, the most populous ...

n Grand Decoration of Honor in Gold with Star for Services * Brazilian Southern Cross. * Woodrow Wilson Award for Corporate Citizenship * Commander of the

Order of Good Hope The Order of Good Hope or Order of the Cape of Good Hope is a dormant order of merit of the Republic of South Africa. History The Order of Good Hope was founded in 1973, by the republican government of South Africa, to grant those who had disti ...

Personal life

Schrempp lives primarily in

Munich Munich ( ; german: München ; bar, Minga ) is the capital and most populous city of the States of Germany, German state of Bavaria. With a population of 1,558,395 inhabitants as of 31 July 2020, it is the List of cities in Germany by popu ...

Germany Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...

and Kitzbuehel

where his wife, Lydia Schrempp, owns an Italian restaurant. He has been married to Lydia since 2000, with whom he has a daughter, Loana Theresa, (born in 2001) and a son, Luca-Timon, (born in 2005). Schrempp has two sons, Alexander and Marc, from his previous marriage to Renate Lutz, which was ended by Lutz due to Schremp's adulterous affair with Lydia, who was his

secretary A secretary, administrative professional, administrative assistant, executive assistant, administrative officer, administrative support specialist, clerk, military assistant, management assistant, office secretary, or personal assistant is a w ...

at the time.

References

External links

* Dutch Wikipedia :nl:Fokker 30 July 2005
Daimler's nose dive: After reporting Germany's worst loss ever, the company dumps Dutch planemaker Fokker as diversification fails
article in

TIME Time is the continued sequence of existence and events that occurs in an apparently irreversible succession from the past, through the present, into the future. It is a component quantity of various measurements used to sequence events, to ...

International February 5, 1996 Volume 147, No. 6 {{DEFAULTSORT:Schrempp, Jurgen E. Recipients of the Cross of the Order of Merit of the Federal Republic of Germany Recipients of the Order of Merit of Baden-Württemberg Members of the Steering Committee of the Bilderberg Group Chrysler executives Mercedes-Benz Group executives DaimlerChrysler Harvard Business School people 1944 births Living people Businesspeople from Freiburg im Breisgau Automotive businesspeople Chrysler people Daimler people