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Daimler Board of Management: Zetsche contract extended by three years

Daimler Board of Management
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E in a corporate spokesman said that the company does not comment on such questions . The supervisory board is responsible for extending the contract.

Talks about Wiedeking as successor

Zetsche has been Daimler's CEO since the beginning of 2006. In the course of the same year, the Supervisory Board had decided to extend contracts for members of the Management Board only for three years at a time. Zetsche's five-year contract expires at the end of 2010. The contract can be extended one year before it expires at the earliest. It is not known when the next Supervisory Board meeting will take place. The 'Spiegel' had already reported last September that the chairman of the supervisory board Manfred Bischoff wanted to have Zetsche's contract extended at the first meeting of the control committee in 2010.

According to the 'Automobilwoche', the former Porsche - CEO Wendelin Wiedeking temporarily in conversation as the successor to Zetsche. Accordingly, Daimler's general works council boss Erich Klemm even asked Wiedeking whether he could basically imagine the job. The background was the difficult situation of the company in the industry crisis and the dispute over the relocation of C-class -production to Bremen and the USA. Wiedeking has shown interest in the job. But the issue was settled after Zetsche told the employees in Mercedes -Werk Sindelfingen had given a job guarantee, it was said.

Zetsche told the 'Automobilwoche' that the group is still sticking to the target of ten percent. However, after the decline in sales in 2009 and the high level of investment in more environmentally friendly technologies, it is not possible to say when it will be achieved.


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