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

Article by Christian Andrei, 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:


Login or Create new account to add a comment!


German premium carmaker Audi is reportedly planning to buy back around 25,000 Audi Q7 SUVs powered by its 3.0-liter V6 TDI engine in the United States. The buyback should compensate...
by - October 24, 2016
Wondering what the Fantasy Gift in Neiman Marcus’ annual Christmas Book this year could be? If you are generous enough to give others or yourself this special present, then behold...
by - October 24, 2016
It wasn’t too long ago when Maserati took the wraps off what appears to be the most gorgeous concept coupe ever made. The Alfieri coupe premiered at the 2014 Geneva...
by - October 23, 2016
Many have been excited with the impending arrival of the next-generation Jeep Wrangler and the new 2019 Jeep Grand Wagoneer, which is slated to be the brand’s new range-topping model....
by - October 21, 2016
Chevrolet has taken the wraps off its new Chevrolet Colorado ZH2 at the fall meeting of the Association of the United States Army (AUSA). Tagged as the most extreme fuel-cell-powered...
by - October 21, 2016