Daimler CEO Dieter Zetsche Might Not Have His Contract Extended Again image

According to an anonymous source Daimler CEO Dieter Zetsche might not see his contract extended again in 2016 when the current one will expire.

The news comes less than a week after Daimler extended Zetsche’s contract until 2016 instead of 2018 as it was previously announced. This means that Dieter Zetsche has three years to close the gap between Mercedes-Benz and rivals Audi and BMW, and make the automaker the number one luxury brand.

A member of the Board of Management of Daimler AG since December 16, 1998 and its Chairman since January 1, 2006, Dr. Dieter Zetsche is also Head of the Mercedes-Benz Cars division. Zetsche is confident that by 2020 Mercedes will manage to retake the lead in the luxury auto market, as the company relies on the new models which are to be launched in the following seven years.

“Dieter Zetsche and the Board of Management have a clear plan how to further enhance Daimler’s overall performance together with their team. Dieter Zetsche is distinguished of course by his great experience, but also by his ability to combine a feeling for cars with sound engineering knowledge and an entrepreneurial approach,” said Dr. Manfred Bischoff, Chairman of the Supervisory Board of Daimler AG.