Daimler gives CEO three more years to chase rivals

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Daimler AG CEO Zetsche smiles during the company's annual news conference in Stuttgart

FRANKFURT (Reuters) – Daimler extended the contract of its chief executive by only three years in a gesture to investors concerned that rival premium carmakers are winning the race for global leadership. 59-year-old Dieter Zetsche, who wants Daimler to overtake BMW and Volkswagen to become the world's biggest premium carmaker by the end of the decade, had been expected to get five more years. Since Zetsche took the helm seven years ago, Daimler's stock has risen just over 2 percent. …

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Source: FULL ARTICLE at Yahoo Business

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