Ron Gettelfinger, the president of United Auto Workers, has stepped down from the supervisory board of DaimlerChrysler AG, a move expected given the sale of the majority of Chrysler to private equity firm Cerberus Capital Management LP in August.
The German automaker said in a statement Monday that Gettelfinger left the company's board, the equivalent of a U.S. board of directors, on Sept. 1. While a member of the board, he represented the company's workers and labor groups.
Key German union IG Metall said that it has nominated Brazilian Valter Sanches, a recent member of the company's World Employee Council, to replace Gettelfinger.
DaimlerChrysler shares were down 1.4 percent to EUR64.70 (US$88.61) in Frankfurt.
We continue to watch the unbelievable bizarre, immature, and wholly irrational saga over whether or not we (the US) will be fortifying our borders with Mexico and constructing a more continuous and less permeable wall there
The authorities of Israeli made an unusual decision on how they are going to celebrate 75 years since the liberation of Auschwitz concentration camp by the Red Army