Shake up at MAN
26th November 1983, Page 7
26th November 1983
Page 7
Page 7, 26th November 1983
— Shake up at MAN
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THE LOSSES piled up this year by MAN, West Germany's recis hit commercial vehicle manufacturer, have cost parent corn chairmand Dr Manfred Lemmings his job.
Now one of Germany's brightest businessmen, Dr Klaus Goette, has taken over — at a reported annual salary of £250,000 — and a return to profits is forecast by 1985.
Shareholders were warned this month to expect more red figures in 1984 after an operating loss this year of about £37m. Dr Lemmings, chairman of
MAN's parent company WC cused of not developing a r ter-strategy soon enough.