DCX promotes Muehlbayer
DETROIT - Michael Muehlbayer, CFO of Chrysler Financial Corp., was promoted to senior vice president and treasurer of DaimlerChrysler. He replaces Thomas Capo, a former Chrysler Corp. executive who is leaving the company.
Muehlbayer, 45, a German, was transferred to the United States soon after Daimler-Benz AG acquired Chrysler Corp. in 1998. At Chrysler Financial, he worked in Southfield, Mich. In his new position, Muehlbayer will move to Stuttgart and report to Manfred Gentz, CFO of the corporate parent.
In addition, Timothy Dykstra, 45, was named vice president and treasurer, North America, a new position. All North American treasury departments, including those outside the Chrysler group (Dodge, Chrysler and Jeep), now report to Dykstra. He reports to Muehlbayer.
Stockman resigns board
DETROIT - No replacement has been named yet for financier David Stockman, who last week resigned his board seat with auto supplier American Axle & Manufacturing Holdings Inc. of Detroit
His resignation from the nine-seat board came after American Axle CEO Richard E. Dauch resigned his post as chairman of the advisory board of Heartland Industrial Partners LP of Bloomfield Hills, Mich., a group headed by Stockman.
An American Axle spokeswoman said both resigned for personal reasons. The resignations follow Heartland's Aug. 2 announced plan to buy MascoTech Inc. of Taylor, Mich.