Daimler-Chrysler CEO to Leave NYSE Board
Posted on: Saturday, 27 September 2003, 06:00 CDT
The head of international auto giant Daimler-Chrysler is stepping down from his post on the board of the New York Stock Exchange, following the scandal involving Richard Grasso, according to media reports released Saturday.
Daimler-Chrysler CEO Juergen Schrempp told the Welt am Sonntag weekly in its Sunday edition that he was leaving his post on the NYSE board as a result of Grasso's resignation.
No one was immediately available at Daimler-Chrysler for comment.
Schrempp's move follows former New York state comptroller H. Carl McCall's announcement on Friday that he was resigning from the board.
Grasso stepped aside earlier this month in the face of public fury over his $187.5 million pay package.
Already in August, Schrempp had questioned whether Grasso's pay was in the best financial interest of the exchange and asked whether an independent opinion had been requested. He was told an independent consultant had determined that the revised deal would save the exchange more than $3.5 million.
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