Supervisory Board of Daimler AG extends contracts of Dr. Zetsche and Dr. Weber

[Der Hofmeister]

OFFICIAL PRESS RELEASE

Stuttgart, Germany, Jan 17, 2010

Supervisory Board of Daimler AG extends contracts of Dr. Dieter Zetsche and Dr. Thomas Weber and appoints Dr. Wolfgang Bernhard to the Board of Management

- Daimler Board of Management again consists of six members
- Dr. Bernhard assumes responsibility for Mercedes-Benz Cars Production and Procurement and for the Mercedes-Benz Vans division

In its meeting today, the Supervisory Board of Daimler AG extended the contract of Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, until December 31, 2013. The contract of Dr. Thomas Weber, Board of Management Member for Group Research and Mercedes-Benz Cars Development, was also extended until December 31, 2013. Furthermore, the Board of Management will once again consist of six members. Dr. Wolfgang Bernhard has been appointed to the newly created position for Mercedes-Benz Cars Production and Procurement as well as the Mercedes-Benz Vans division with immediate effect, meaning as of February 18, 2010. He is appointed until the end of February 2013.

Dr. Dieter Zetsche has been a member of the Daimler Board of Management since December 16, 1998 and Chairman of the Board of Management since January 1, 2006. He is also Head of the Mercedes-Benz Cars division. Dr. Thomas Weber has been a member of the Daimler Board of Management since January 1, 2003, with responsibility for Group Research and Mercedes-Benz Cars Development since May 1, 2004.

The contracts of Dr. Zetsche and Dr. Weber would have expired in December 2010. In accordance with Section 84, Subsection 1 of the German Stock Corporation Act (AktG), the Supervisory Board makes a decision on reappointment after the beginning of the last year of office. The three-year extension effective as of January 1, 2011, reflects Daimler’s general policy to conclude contracts for a period of three years, in case of both initial appointments and reappointments.

Dr. Wolfgang Bernhard has been appointed as an additional member of the Board of Management. Dr. Bernhard, who became Head of Daimler’s Mercedes-Benz Vans division in April 2009, assumes Board of Management responsibility for Mercedes-Benz Cars Production and Procurement as well as for the Mercedes-Benz Vans division. A successor for his current position will be appointed soon.

Source: Mercedes-Benz-Blog -- Unmistakable. Unique. Classy. Mercedes-Benz.: Supervisory Board of Daimler AG extends contracts of Dr. Dieter Zetsche and Dr. Thomas Weber and appoints Dr. W. Bernhard to the Board of Management

 

[bmer]

So the confirmation for the rumor came today just as expected. Zetsche will continue until he's 60 (in 2013), and unless the board grants him with any further short extensions, Bernhard will then replace him.

 

[Merc1]

Good news I guess. Now if we could just get some changes made in the styling department. I just know Mr Sacco will come back if asked.

M

 

[LaArtist]

Great news..

 

[Centurion]

Dr. Zetsche is the right leader for Daimler. He has taken Mercedes into a new direction whereby they offer sportiness that rival BMW, while staying true to the Mercedes principle of offering best possible comfort.