 Schrempp believed that a modern automaker needed a full range of products beyond the luxury vehicle market in which Mercedes-Benz competed, and began looking for a partner as soon as he became chairman in 1994.The Chrysler Corporation was targeted in 1995, and on January 12, 1998 he met with Chrysler chairman Bob Eaton with the intent of negotiating a merger/takeover.Following its completion in May that year, Schrempp then turned to Asia.