History of Chrysler stake in the firm. Financial performance improved and Chrysler was generating a significant part of Daimler-Chrysler's profits from 2004 to 2005, as the other subsidiary, Mercedes-Benz, incurred costs for restructuring. By 2005, Chrysler was said to be the healthiest of the Detroit Three automakers (compared to General Motors and Ford Motor Company). As a result of Zetsche's apparent success in a turnaround of Chrysler, Juergen Schrempp, the CEO of parent company Daimler-Chrysler, was pressured to retire early. Zetsche was elevated to CEO of Daimler-Chrysler on January 1, 2006, and Thomas W. LaSorda became President and CEO of Chrysler Group. However,
General Motors Diesel General Motors Diesel General Motors Diesel was a railway diesel locomotive manufacturer located in London, Ontario, Canada. It served many notable companies such as BNSF Railway and Union Pacific. It was created in 1949 as the Canadian subsidiary of the Electro Motive Division of General Motors (EMD) located in the United States. In 1969 it was re-organized as the Diesel Division of General Motors of Canada, Ltd. The plant was re-purposed to include manufacture of other diesel-powered General Motors vehicles such as buses. Following the US-Canada Free Trade Agreement in 1989, all of EMD's locomotives were built at the London