Share

Zetsche stays at Daimler wheel

FRANKFURT, Germany - Automaker Daimler AG has extended the contract of its chief executive Dieter Zetsche by three years to the end of 2016.

Zetsche, whose contract was due to run out in December 2013, remains under pressure to improve earnings and profit margins that have not met expectations. Zetsche also heads the Mercedes brand, Daimler's earnings mainstay where margins have recently fallen short.

TWO MOVING

The company also swopped the responsibilities of two top managers. Wolfgang Bernhard moves from head of operations at Mercedes to head the company's truck division.

Truck division head Andreas Renschler will move to Bernhard's former job at Mercedes.

The board also extended the contract of Thomas Weber, head of group research and Mercedes development, until the end of 2016.
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()