NEWSWEEK: How did things go so wrong so fast? SCHREMPP: In the course of 2000 we found out that we have a performance problem. We concluded that we have to install a new management with a particular knowledge to manage a turnaround situation.
Have you made mistakes with Chrysler? If you are an entrepreneur, if you have a leadership position, I don’t think there is anybody who can claim not to make mistakes.
Did you buy Chrysler at the wrong time? You cannot always select the timing as it suits yourself. If you do that, and sit back and wait another year or two, somebody else will act and you are defeated.
Did [former CEO Bob Eaton] get rid of Chrysler just before it ran into trouble? Did he take you for a ride? Nobody was taken for a ride. Everything was done in a really transparent way. I think we had all the details that were required to implement a merger of equals. So I’m firmly convinced it was a fair transaction for both sides.
Can you turn Chrysler around without cutting jobs in the U.S.? It would be unfair for me to speculate at this stage.
How can you persuade the UAW to listen when it has a good contract already? When defining the actions necessary, the management will make those steps transparent and negotiate in all fairness with the UAW.
Can Chrysler be fixed? I’m sure that with those excellent people at Chrysler and with the new management, we will most certainly provide a restructuring plan in February, which shows there will be a turnaround at Chrysler.
How long will it take to implement? This plan will be divided into milestones, and everybody, including the financial markets, can check whether we deliver. They will be defined by action taken and a monetary content. And I think as we go along and deliver, we will regain credibility for what we are doing.
