DaimlerChrysler trims down board

FRANKFURT, SEPT 24: DaimlerChrysler cut its management board on Friday in a shake-up tilting the balance of power in favour of chairman Juergen Schrempp8217;s German team with the departure of key US Chrysler executive Thomas Stallkamp.

The company said it had cut the board from 17 to 14 members by dropping two North American and one German executive in a bid to accelerate growth 10 months after its 42 billion merger. It denied the departure of Stallkamp, the firm8217;s North American president, had provoked a board room rift.

quot;There8217;s simply nothing to that,quot; co-chairman Robert Eaton told reporters in a teleconference. quot;The dynamics in the board of management are absolutely fantastic,quot; he added.