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.
The head of Russian Technologies, Sergei Chemezov, clarified the fate of anti-aircraft guided missiles that Russia was supposed to deliver to China
The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13