DaimlerChrysler AG Chairman Juergen Schrempp steps down from his post on the New York Stock Exchange’s board of directors. The announcement comes a few weeks after NYSE Chairman Richard Grasso resigned after reports leaked of Grasso’s $187.5 million compensation package. In a letter faxed to NYSE Interim Chairman John Reed, Schrempp cites time constraints as the reason for his departure. Schrempp’s tenure on the board was to expire in June 2004.

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