Zetsche Not Yet Ready to Give Bernhard the Key to Mercedes Management
Clarissa November 17, 2011
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A report by Reuters said that Daimler CEO Dieter Zetsche is not yet ready to give up the reigns to Wolfgang Bernhard. Right now, Zetsche heads Daimler and Mercedes-Benz and investors are waiting for him to hand over the keys to the management of the company.
It doesn’t look like it’s happening soon, even if his contract runs out by the end of 2013.
According to the report, Zetsche still thinks that he is quite effective in managing the car company, yet experts disagree on that. Basing on the stock performance of the company, in which Daimler’s is worth less than BMW in spite of being smaller in revenue, it is not good news. Yes, the company raised stock prices to 27%, however that is lower compared to other car manufacturers who enjoyed larger gains, like Volvo at 90%. Additionally, the published report also said that, “investors are looking for answer, and most would like to see a change in management to help improve the company’s future.”
Source: Reuters
