/ Industry, Mercedes-Benz, News / Daimler seeks performance improvement

Daimler seeks performance improvement

Linked In Share
Daimler seeks performance improvement

According to the company’s annual report, Daimler AG has decided to upgrade its performance measuring standards by excluding some less competitive rivals from its usual pool of carmakers used to measure its own profitability and the payment to managers.

In its strive to reclaim the top spot among premium automakers, lost to BMW in 2011, Daimler also opted in nominating former Volkswagen and BMW CEO Bernd Pischetsrieder, 66, for a seat in the supervisory board.

Besides that, thanks to the improved sales results of 2013, in which Mercedes-Benz managed to reduce the gap between them and Audi and BMW, while also growing faster than both rivals at the start of 2014, Daimler also opted in raising the pay of its CEO. Dieter Zetsche, who just a few years ago was almost ousted from the carmaker, is now reaping the benefits of its growth strategy – and Daimler has acknowledged that by deciding to raise the executive’s pay to 8.25 million euros ($11.3 million).

The automaker also announced it decided not to compare its performance to other rivals who don’t feature an investment-grade credit rating – like Renault or Fiat.

“This is significant because they are comparing themselves to competitors that are harder to keep up with. In the past Daimler often had it too easy,” Metzler Bank automotive analyst Juegen Pieper said.

For 2013 and 2014, Daimler set the benchmarking standards for the payments to the management board members in part by measuring the sales return to that of rivals from BMW, Volkswagen, Fiat, Honda, Volvo, Renault and Toyota. For 2014, the procedure will change to include all stock-exchange-listed auto manufacturers that have an investment-grade rating.

Via Reuters

by Aurel Niculescu (my Google+) - Monday, February 24th, 2014 - filed under Industry, Mercedes-Benz, News. Image credit: .
Linked In Share
Related Articles
daimler executives payment performance


Discuss: Daimler seeks performance improvement

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Italian PM to visit Chrysler’s US headquarters
Italian PM to visit Chrysler’s US headquartersThe Chrysler Group LLC is completing its inclusion into Fiat SpA’s Fiat Chrysler Automobiles, an automotive group that has ...
Mercedes-Benz C350 Plug-in Hybrid gets detailed
Mercedes-Benz C350 Plug-in Hybrid gets detailedNew details on the upcoming Mercedes-Benz C350 Plug-in Hybrid have been recently released, ahead of its sale date which will kick ...
Report – Volkswagen ready to improve margins with China exclusive premium sedan
Report – Volkswagen ready to improve margins with China exclusive premium sedanVolkswagen AG has counted on the world’s No.1 auto market to assist the company in securing the position it now holds globally, ...
France – Renault Clio Initiale Paris trim level introduced
France – Renault Clio Initiale Paris trim level introducedRenault has officially introduced the new Initiale Paris trim for the Clio on its home market, where this is adding several ...
Magna hit by antitrust regulator probe in Brazil
Magna hit by antitrust regulator probe in BrazilMagna International’s shares dropped the most in over two years after the company announced it received a visit at the ...
Report – Hyundai executives unaware of property deal cash size
Report – Hyundai executives unaware of property deal cash sizeHyundai’s decision to spend no less than $10 billion on a bid to acquire a prized property in Seoul for its next headquarters ...
Anniversary edition of Mustang appealing to Ford’s top execs
Anniversary edition of Mustang appealing to Ford’s top execsOnly 1,964 units of the Mustang 50th Anniversary Edition will be produced, and the first batch could become a Ford affair. No. 1 ...
US: Goldman analyst says Tesla needs $6 billion for advancements
US: Goldman analyst says Tesla needs $6 billion for advancementsThe industry analysts have hit the US electric automaker again, after a Morgan Stanley analyst called the company’s future in ...
US: GM ignition switch lawsuits begin discovery procedures
US: GM ignition switch lawsuits begin discovery proceduresSome of the numerous cases filed against General Motors have been approved to start discovery – which means plaintiffs and ...
Alonso staying at Ferrari ‘for the moment’ – boss
Alonso staying at Ferrari ‘for the moment’ – bossSep.22 (GMM/Inautonews.com) As was uttered by a paddock dweller in Singapore this weekend, "There's no smoke without fire". He ...
No team orders as Ricciardo title unlikely – Horner
No team orders as Ricciardo title unlikely – HornerSep.22 (GMM/Inautonews.com) Christian Horner has all but written off Daniel Ricciardo's chances of beating the Mercedes drivers ...
McLaren denies losing Johnnie Walker as sponsor
McLaren denies losing Johnnie Walker as sponsorSep.22 (GMM/Inautonews.com) McLaren has hit back at reports it is set to lose Johnnie Walker as a sponsor. The Mirror's Byron ...
Japan: investors rally behind automakers again on growth predictions
Japan: investors rally behind automakers again on growth predictionsToyota Motor Corp., the world’s largest automaker and the biggest company in the country, saw its shares up to 6,494 yen on ...
Italy: Fiat to cut Panda production for a week in October
Italy: Fiat to cut Panda production for a week in OctoberAccording to a union official, the carmaker has decided to stop production at its Pomigliano assembly facility in southern Italy ...
EU official threatens automotive suppliers with new monopoly fines
EU official threatens automotive suppliers with new monopoly finesIt’s been keeping the headlines lately in China, but auto companies and the suppliers should remember the shenanigans don’t ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Renault Clio Initiale Paris 1
Peugeot_2008_1
2015 Vencer Sarthe 1
ferrari 458 italia crash germany autobahn 1
chevrolet-corvette-z06-rear2015
lamborghini gallardo crash mount sinai 1
Spied 2016 Mercedes E-Class 001
ferrari fxx for sale dubai 1
Volkswagen Beetle GRC 1
Range Rover Evoque SW1 1
kia vehicles paris motor show 1
Scion x Riley Hawk Skate Tour xB

More automotive from inautonews
The Chrysler Group LLC is completing its inclusion into Fiat SpA’s Fiat Chrysler Automobiles, an automotive group that has signaled a global approach that could drive it away from its two home territories – Italy and the US. Fiat is Italy’s biggest private employer, and the country has ...
read more
Inautonews Editors Section
Test Drive: Peugeot 2008 1.6 e-HDI
Test Drive: Peugeot 2008 1.6 e-HDIThe small crossover offered by the French automaker has become an acquaintance to the inautonews.com team, with the 2008 being tested in two other ...
Top 10 Ferrari F1 drivers No.1 Michael Schumacher
Top 10 Ferrari F1 drivers No.1 Michael SchumacherThe greatest driver of the modern age and perhaps the most complete off all-time he rewrote all the conceivable records in such a dominant fashion ...
Can Ricciardo do a Prost ’86?
Can Ricciardo do a Prost ’86?For the third time this season, Mercedes faltered in their 1988-esque campaign and there’s only one man ready to pounce whenever opportunities ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Recall roundup: GM CNG vansThe North American based automotive giant General Motors has recently issued yet another recall, ... Recall roundup: Toyota vehicles for fire riskThe Japanese based automaker Toyota has recently issued a recall for several of its vehicles ...
Safety Section