New DCX Chairman Dieter Zetsche will also head Mercedes after Eckhard Cordes leaves Aug. 31

Washington DC August 18, 2005; The AIADA newsletter reported that in a swift consolidation of power, DaimlerChrysler’s CEO-elect will also take over the responsibility of running Mercedes, when the current leader vacates the position at the end of this month. Dieter Zetsche, who will take over as Daimler CEO on Jan. 1, may stay on as head of Mercedes for a year or longer, according to Reuters. Current Mercedes boss Eckhard Cordes "will leave the company at his own request on Aug. 31, 2005, after 29 years of service," a brief company statement said., according to AP. In the meantime, an internal search for a new executive to lead Mercedes is under way, according to news reports.