Daimler Investors push for independent chairman as Zetsche bows out

published 27.09.2020 16:27

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Joe Kaeser, the outgoing chief executive of German engineering giant Siemens SIEGn.DE, who is a member of the Daimler supervisory board, could emerge as a candidate for the chairman role, sources told Reuters on condition of anonymity.

REUTERS/Hannibal Hanschke/File Photo Zetsche, 67, a former head of the Mercedes-Benz brand, was due to take a seat as chairman of the board of directors at the Stuttgart-based company after a two-year cooling off period.

FILE PHOTO: Daimler AG CEO Dieter Zetsche delivers a speech at the Daimler annual shareholder meeting in Berlin, Germany, May 22, 2019.

FRANKFURT (Reuters) - Investors welcomed former Daimler DAIGn.DE chief executive Dieter Zetsche's decision to forego his role as chairman of the German carmaker, announced at the weekend and starting a race to find an independent head of the company's supervisory board.

In his newspaper interview, Zetsche said that although Daimler’s top investors would have backed him to succeed Bischoff, opposition from other shareholders was likely.

by Reuters Staff from ca.reuters.com

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