Dieter Zetsche not ready to let Wolfgang Bernhard be the new Mercedes CEO

Article by Christian A., on November 18, 2011

Daimler’s profitability falls behind BMW and Audi, prompting several investors to call for Daimler CEO Dieter Zetsche to cede control of Mercedes-Benz cars business to Wolfgang Bernhard. Zetsche asserted that he has no plans of doing this and that his position as the head of both Daimler and Mercedes made him more effective.

He said that “if he wasn't deeply anchored in its operating business," he would be a worse CEO. It was in July 2005 that he was named as the head of Daimler.

He became responsible for Mercedes the next month after Eckhard Cordes (his rival to the CEO position and the current Mercedes chief back then) decided to quit. According to auto industry analyst Arndt Ellinghorst of Credit Suisse, Daimler shares require a catalyst to outperform.

He believes that the catalyst would be Bernhard, Mercedes’ production and procurement chief, if he would have the everyday responsibility for the car business.

Ellinghorst said last September that the “most material trigger for the stock” would be reports on management changes in February 2012. He believes that the most probable scenario would be for Zetsche's contract as CEO to be extended. As a result, Dr. Bernhard will be the CEO of Mercedes cars. [source: Reuters]

If you liked the article, share on:

Comments

Recommended

Not so long ago, the 2018 Genesis G80 Sport made its debut at the 2016 LA Auto Show. But at that time, it did not have a price yet. And...
by - April 23, 2017
It seems like an increase in price has become a trend for automotive companies lately. Genesis isn’t alone when it comes to this. Subaru had just announced that the 2018...
by - April 23, 2017
Imagine a sports car morphing into an SUV. Chevrolet initially revealed the FNR Concept at the previous Shanghai Auto Show in 2015. For this year, Chevy once again graces the...
by - April 22, 2017
From the moment FCA kicked off with its 3-month-long ad campaign until the day it unveiled the new Dodge Challenger SRT Demon, folks have been guessing what the exact figures...
by - April 22, 2017
Some people may think Audi Sport is a new company but it is in fact the motorsport division of Audi combined with the best of what Quattro GmbH can offer....
by - April 21, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries