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,
History of General Motors Chevrolet Motor Company in 1911 with Louis Chevrolet. R S McLaughlin in 1915 built Chevrolet in Canada and after a stock buy back campaign with the McLaughlin and DuPont corporations, and other Chevrolet stock holders, he returned to head GM in 1916, as Chevrolet owned 54.5% with the backing of Pierre S. du Pont. On October 13 of the same year, GM Company incorporated as General Motors Corporation after McLaughlin merged his companies and sold his Chevrolet stock to allow the incorporation, which in turn followed the incorporation of General Motors of Canada (reverting to General Motors Company upon emergence