Mercedes boss Cordes gets no payoff for leaving


FRANKFURT, Aug 19 (Reuters) - Outgoing Mercedes chief Eckhard Cordes will draw his salary until the end of this month and get no severance pay even though his contract runs through the end of 2008, DaimlerChrysler said on Friday. "Dr Cordes will not get a settlement from us," a company spokesman said a day after the carmaker's board accepted Cordes's resignation as of the end of August. In a letter to staff, Cordes said his departure was unavoidable after the world's fifth-biggest ...

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