Dieter Zetsche to Remain Head of Mercedes-Benz Through 2019

Dieter Zetsche will remain Chairman of the Board of Management of Daimler AG and head of Mercedes-Benz Cars through the end of 2019, the automaker announced today.

The Supervisory Board of Daimler AG extended Zetsche‘s current contract from the end of 2016 to December 31, 2019, in a meeting this week.

“Daimler is more successful than ever. This proves that Dieter Zetsche pursues and implements the right strategy not only aligned with the supervisory board,” said Manfred Bischoff, Chairman of the Supervisory Board of Daimler AG, in a release. “He also can make employees enthusiastic for the demanding targets of the group. With the contract extension we are securing the continuity at the top needed for sustainable success. We are looking forward to continuing the excellent collaboration with Dieter Zetsche.”

After joining the Mercedes Board of Management in December 1998, Zetsche became the Chairman of the Board of Daimler AG in January 2006. The move doesn’t come as a surprise as Manfred Bischoff, Chairman of the Supervisory Board, said in an April 2015 Annual Shareholders Meeting that the Supervisory Board would like to extend Dieter Zetsche’s contract.

In addition to extending Zetshe’s contract, the Supervisory Board of Daimler AG appointed Ola Källenius as member of the Board of Management responsible for Group Research and Mercedes-Benz Cars Development. Källenius, who begins his new position January 2017, succeeds Professor Dr. Thomas Weber when his contract ends at the end of the year. Weber will remain as an advisor to the company. Currently, Källenius is in charge of Mercedes-Benz Cars Marketing & Sales in the Board of Management.

Source: Mercedes-Benz

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