Rolf Eckrodt

Filed Under:
Dictionary Says

Definition of 'Rolf Eckrodt'


A former president and CEO of Mitsubishi Motors Corp. Eckrodt joined the company in 2001 as executive vice president and COO and was president and CEO from 2002 to 2004. He joined the company shortly after it revealed a decades-long history of covering up design flaws that had caused vehicle malfunctions and accidents.

The company was dealing with massive recalls and losing money and market share in Japan, so Eckrodt cut thousands of jobs, streamlined the company's suppliers, closed a manufacturing plant and increased spending on research and development. These changes helped the company turn a profit in 2002, but in 2003 it suffered from massive defaults on auto loans and the company lost millions on this and other setbacks, causing Eckrodt to resign and retire in 2004.

Investopedia Says

Investopedia explains 'Rolf Eckrodt'


Born in 1942 in Germany, Eckrodt earned his M.E. degree from the University of Bochum in 1966. He began his career that same year with Daimler-Benz and worked his way up to vice president of axle production for passenger cars in 1983. He continued to advance into higher-level management positions with Daimler-Benz's subsidiary, Mercedes-Benz, and in 1998 became president and CEO of another of the company's subsidiaries, Adtranz.

comments powered by Disqus
Hot Definitions
  1. Private Equity

    Equity capital that is not quoted on a public exchange. Private equity consists of investors and funds that make investments directly into private companies or conduct buyouts of public companies that result in a delisting of public equity.
  2. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  3. Valuation

    The process of determining the current worth of an asset or company. There are many techniques that can be used to determine value, some are subjective and others are objective.
  4. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  5. Tech Street

    A term used in the financial markets and the press to refer to the technology sector. Companies like Intel, Microsoft, Apple and Dell are all considered to be part of Tech Street.
  6. Momentum Investing

    An investment strategy that aims to capitalize on the continuance of existing trends in the market. The momentum investor believes that large increases in the price of a security will be followed by additional gains and vice versa for declining values.
Trading Center