Schrempp to quit Allianz board

[United Press International]

STUTTGART, Germany, May 6 (UPI) -- Jrgen Schrempp, chief
executive of German automaker DaimlerChrysler, will quit the
supervisory board of insurance group Allianz, the FT reported.
Schrempp told Allianz's supervisory board chairman, Henning
Schulte-Noelle, that he would leave on June 30 because he wanted to
focus on DaimlerChrysler.
Sources close to Schrempp said his leaving the Allianz board
was not based on DaimlerChrysler's decision not to put any more
money into Japanese partner Mitsubishi Motors. Analysts and fund
managers called for Schrempp to resign after floundering
Mitsubishi's subsidy was cut off.
Schrempp also stepped down from the board of the New York
Stock Exchange last year.