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Posts Tagged ‘Daimler results’

Zetsche Gets Board Vote of Confidence at Daimler

Wolfgang Bernhard likely his successor in latest moves.

by on Feb.18, 2010

Bernhard’s appointment gives Zetsche an ally.

Daimler AG’s supervisory board has extended the contract of Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, for up to three years 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.

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 the cases of both initial appointments and re-appointments, a statement from Daimler noted.

The supervisory board, which includes outside directors and labor representatives, also approved the appointment of Wolfgang Bernhard to the company’s separate board of management. The board of management will have six rather than five members, going forward, and Bernhard’s appointment gives Zetsche a critical ally.

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Board, Not Bored!

Bernhard also was appointed to a new position that puts him in charge of Mercedes-Benz car production and procurement, as previously reported. Bernhard’s appointments also extended three years until Feb. 2013.

The latest moves appear to make Bernhard the leading candidate to succeed Zetsche.   (more…)

Daimler Returns a Small Q3 Profit

Six billion in losses later, black ink returns.

by on Oct.29, 2009

Zetsche's team provides some postive results.

Zetsche's team provides some positive results.

After a run of heavy losses totaling almost $6 billion, Daimler AG expects to finish 2009 with a fourth quarter profit.

The German automaker finished the third quarter with a net profit of $60 million despite a steep 26% plunge in sales.

Daimler chief executive, Dieter Zetsche, Chairman crowed that, “In recent months, we have increasingly mastered the crisis. Daimler has been able to maintain its financial flexibility and has intensified the actions taken to enhance efficiency, while pushing forward with the development of new products and markets. We are now very well positioned and can look with confidence to the coming year, which will remain challenging due to the still-difficult situation of automobile markets worldwide.”

(more…)