Company Research – DaimlerChrysler, North America LLC
Corporate Overview:
DaimlerChrysler is a publicly owned company with over to a billion shares available. The company stock (DCX) is traded on the New York Stock Exchange, and on stock exchanges in Frankfurt and Stuttgart, Germany.
Company’s sales figures for years 2004 and 2005 are as follows:
Revenue (in millons EUR) / 2005 / 2004NAFTA / 77,611 / 73,266
Of which USA / 67,015 / 64,232
In 2004-2005 sales steadily increased. This was largely due to an increase in demand for commercial vehicles. The high sales figures in the NAFTA region were fueled by strong demand for trucks and Dodge vans. To fulfill the growing demand for the van, the company decided to dedicate its Charleston, SC, plant to the manufacture of that model only. Due to their high quality and attractive design, DaimlerChrysler vehicles are more popular among consumers than those of their competitors.
The sales in 2006 have also been increasing. The total market share of DaimlerChrysler Group is greater than 13%.
The Chrysler Group in North America consists of DaimlerChrysler Motors Company LLC and its subsidiaries:
DaimlerChrysler Corporation
DaimlerChrysler Canada Inc
DaimlerChrysler de Mexico S.A. de C.V.
Headquarters of the Chrysler Group are located in Auburn Hills, Michigan, USA.
There are 38 manufacturing facilities and 3 test facilities in North America.
Eight Regional Business Centers in the USA are responsible for sales, service and dealer support.
The company manufactures vehicles under Chrysler, Dodge and Jeep brand names. DaimlerChrysler Group also has a joint manufacture agreement with Mitsubishi Motors Corporation and Hyundai Motor Company.
Another branch of DaimlerChrysler is DaimlerChrysler Financial Services Americas LLC. The group consists of Chrysler Financial, Mercedes-Benz Financial and DaimlerChrysler Truck Financial. The main focus of this group is providing financing for dealers and retail customers in the USA, Canada and Mexico. In the Americas DaimlerChrysler Financial Services manage over $90bln in contracts. DaimlerChrysler Insurance Company, a subsidiary of DaimlerChrysler Financial Services, provides insurance services. The North American headquarters are located in Farmington Hills, Michigan, USA.
Corporate Strategy:
As stated on corporate website, DaimlerChrysler’s strategy rests on four pillars: excellent products offering outstanding customer value, leading brands, innovations and technology leadership and global presence and networking.
Recent press releases about the company covered various topics. Some of the topics are:
Daimler Chrysler’s commitment to the use of biofuels;
The company’s top position on the automotive market due to continuing increase in sales;
The launch of new and improved vehicle models, and
Recent changes in senior management.
The manufacture of vehicles that use environment-friendly fuels and minimize emissions confirms Daimler Chrysler’s commitment to protect the environment. It follows the part of the corporate strategy that speaks about innovation and offering outstanding customer value.
The popularity of Daimler Chrysler vehicles among consumers supports the idea of leading brands embedded in the corporate strategy.
Several changes in senior management took place at Daimler Chrysler at the beginning of 2006. DaimlerChrysler's Chairman Prof. Jurgen E. Schrempp left the company and was replaced in that position by former Head of Chrysler Group, Dr. Zetsche. Dr.Zetsche is to remain Company Chairman for five years. Tom LaSorda, former Group Chief Operating Officer, took the position of the Head of Chrysler Group. Eric Ridenour replaced Tom LaSorda as Chief Operating Officer. Continuous improvement in company performance in 2006 is a clear sign that the shifts played a positive role in the development of Daimler Chrysler.
Career:
Several career paths are available for university graduates at Daimler Chrysler.
1. International Management Associate Program (IMAP)
This program is designed to attract qualified engineers and business professionals to the international team of DaimlerChrysler. During a period of 12-15 months, an IMAP participant works on three or four projects in his or her field of specialty. Up to six months are spent abroad. The structure of IMAP program allows for on-the-job and off-the-job training periods, both of which focus on improving the participant’s practical experience. All IMAP participants work with a coach from DaimlerChrysler management team.
This program is open for university graduates with some practical experience, including at least one year of study or internship abroad.
The selection process consists of four steps:
1. Online application
2. Interview
3. Assessment Center
4. Recruitment.
The IMAP program in the USA offers one selection seminar per year, it takes place in November. University recruiting and online application phases start in August.
Completing an IMAP program prepares the participant for a challenging career path with DaimlerChrysler. Application process for a position with the company is simplified for those who took part in the IMAP.
2. Trainee program (ADDP).
The trainee program for the Finance graduates in the USA is called Finance Advance Degree Development program. This program recruits students from top universities with degrees in Finance. Candidates are usually selected after a successful completion of a summer internship at DaimlerChrysler. This is a four-year rotational program where participants select finance assignments according to their own preferences. Upon completion of this program participants take on managerial positions at DaimlerChrysler.
3. Direct assignment.
In order to apply for a direct assignment with Daimler Chrysler, a candidate must have a university degree and related job experience. After the hire, the company may offer training courses and individual programs. A direct assignment is possible in all business units and in various countries.
I located several MSU MBA alumni who currently work for DaimlerChrysler. The names are as follows:
1. Mr. Michael Curmi, Executive Assistant, office of EVP Global Sales, Marketing and Service.
2. Mr. Lee DeKay, ADDP Analyst.
3. Mr. Lawrence France, Operational Auditor, ADDP.
4. Mr. Gustavo Isaac, Project Analyst, Budget office.
Contact information for these alumni can be found on MSU Alumni Connection.
I spoke on the phone to Mr.Michael Curmi, one of the MSU alumni, currently working for DaimlerChrysler. Mr.Curmi double majored in Finance and Supply Chain at the Broad School of Business.
Michael Curmi has been with the company for six years. After his first year at the Broad MBA program, he completed a summer internship at DaimlerChrysler, working in the small car development unit. During his internship, Mr.Curmi worked with engineers on various projects. Towards the end of his internship, Mr.Curmi interviewed with the senior executives for a full-time job. As part of his interviews, he offered presentations on the projects he completed as an intern.
In December of his second year at the Broad MBA program, Michael Curmi received a job offer from DaimlerChrysler. He launched his career with the company through the ADDP program, which included four year-long rotations. Mr.Curmi started in the regional sales unit and later moved on to a different position, which utilized not only his finance background but also his analytical skills. As the next step in his career, Michael Curmi worked as an Executive Assistant to the Vice President of Global Sales. Currently, Mr.Curmi works in the Marketing unit in California. His daily responsibilities include negotiations with film and TV production companies on marketing of DaimlerChrysler products.
Michael Curmi can be reached at 248-202-0289.
Information was taken from Daimler Chrysler corporate website www.daimlerchrysler.com and www.broadalumni.org.