Daimler and VW at odds on resigned executive image

Well, it looks that even in the German executive stratosphere things can be stirred up just like in any good Latin soap opera. VW and Daimler are on an apparent quarrel over the fact that Andreas Renschler – ex Daimler executive is courted by VW to head their trucks division.

Last Tuesday, Renschler, even though had been long tipped as a future Daimler CEO, decided to unexpectedly resign from his function of head of manufacturing at the company’s Mercedes-Benz Cars business.

So far so good, things like that even happen to the best, but a VW familiar source then tipped Reuters on Friday that Renschler was offered to jump wagons through an attractive package to head Volkswagen’s truck division. The source gave little details but actually confirmed earlier newspaper rumors on the matter.

Renschler, who ran Daimler Trucks for almost a decade, is seen as the best savior for VW, which has been in recent years battling to form an alliance of its heavy-trucks brands MAN SE and Scania and wanted him on its payroll as soon as possible.

Just like in a lover’s quarrel though, Dieter Zetsche, Daimler’s boss, said that Renschler would not be able to join a rival soon because of a non-compete clause in his contract. The VW source tipped that such a contract usually prevents high profile executives join a competing automaker for around a year.

Also, the VW offer was substantiated by Germany’s Stuttgarter Zeitung newspaper, which reported that VW Chairman Ferdinand Piech indicated an offer to Renschler was indeed on the table and a decision was soon to be made, possibly being approved by VW’s supervisory board, due to meet next on February 21.

Via Reuters