Wolfgang Bernhard and Andreas Renschler to swap Daimler roles

Article by Anita Panait, on February 24, 2013

Wolfgang Bernhard, head of Mercedes production and purchasing, and Andreas Renschler, chief of Daimler Trucks will be swapping roles effective April 1, 2013, Daimler said in a statement. The move to swap roles was decided at Daimler’s recent supervisory board meeting. The meeting also saw the extension of the contract of Daimler chief executive Dieter Zetsche to the end of 2016.

Morgan Stanley said in a note to investors that the role swap is likely to confirm Bernhard and Renschler as the prime candidates to replace Zetsche as Daimler CEO after 2016. Roman Mathyssek of IHS Global Insight remarked that the chances that Bernhard could become Daimler’s next CEO had increased further with the announcement.

He noted that there is an unwritten law at Daimler that the CEO must prove himself at the truck division. Daimler is giving Zetsche more time to place the carmaker on track as the largest premium carmaker in the world by 2020. Zetsche has been holding the post since 2006 and his new contract could make him one of the Daimler’s longest-serving CEOs.

According to analysts, the decision to extend Zetsche's contract underscores a lack of alternative candidates. The extension came despite rising criticism from the financial markets that rivals BMW and Audi are winning the race to become the world’s No. 1 premium carmaker at Daimler's expense, particularly in China.

Supervisory Board chairman Manfred Bischoff remarked that the long-term orientation of Daimler's leadership is an essential factor for Daimler's sustained success. He added that Zetsche's extended contract helps maintain "the important continuity at the top executive level.”

Topics: daimler

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Ford has just recently unveiled the 2018 Ford Mustang, and as it turned out, the carmaker gave its beloved pony car a facelift. There have been mixed reactions about the...
by - January 19, 2017
The bidding war for one of the only 20 examples -- 21 actually, but the 00 version went to a museum -- of the classically beautiful Lamborghini Reventon built and...
by - January 18, 2017
Bentley once again confirmed its plans to push PHEV into their future lineups. As a matter of fact, the Bentayga SUV will be the first to have the plugin hybrid...
by - January 18, 2017
Each time that Mini launches a new generation of the Countryman crossover, a John Cooper Works performance version is always expected to follow. When Mini unveiled the next-gen 2017 Mini...
by - January 18, 2017
Ford Mustang customers won’t be able to specify the V6 powerplant for the latest iteration of the carmaker’s pony car. This comes as the new 2018 Ford Mustang is saying...
by - January 18, 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