DaimlerChrysler CEO to resign

FRANKFURT (Reuters) - DaimlerChrysler said Thursday second-quarter operating profit fell, beating expectations, but the news was overshadowed by Chief Executive Juergen Schrempp's plan to resign.

The stock was up 8 percent on the day on Schrempp's exit and a surprise profit at flagship luxury division Mercedes Car Group.

DaimlerChrysler (Research) said that Schrempp would leave the world's fifth largest carmaker at the end of 2005, to be replaced by Chrysler chief Dieter Zetsche...