Daimler CEO Dieter Zetsche Expects to Have His Contract Renewed image

Daimler CEO Dieter Zetsche said that he expects his contract, which expires at the end of this year, to be renewed.

In 2012 investors became increasingly worried about Mercedes’ inability to surpass rivals BMW and Audi, which also prompted media speculation regarding Dieter Zetsche’s future in the company.

“At the moment there are good indications that I will continue as the head of Daimler,” said Mr Zetsche.

Earlier this month Der Spiegel magazine reported that Daimler’s supervisory board will extend Dieter Zetsche’s contract until the end of 2018. The extension will be signed at a meeting to take place on February 6th and the automaker’s problems will not interfere with Mr Zetche’s contract renewal, according to anonymous sources.

“I assume that we will be able to sell significantly more cars in the future and that our productivity will rise,” Mr Zetsche said. “Overall, the number of employees should remain largely constant.” Mr Zetsche also said he was satisfied with the group’s investor structure, saying the risk of a takeover “belonged to the realm of the imagination”.

Friday, January 18th, sources close to the plan said that Daimler plans to purchase a stake in BAIC, its Chinese partner, which aims at taking its BAIC Motor unit public in 2013 or 2014. If Daimler would succeed in buying a stake of roughly 10% before the flotation, it would bolster the automaker’s position in China.