A few months ago, we discussed what Nissan/Renault’s Carlos Ghosn calls a “structural decline” of Europe: Missing car buyers, brought on by a sudden decline of births around 1970. A population peak that now sits smack in the middle of the prime new car buying age, which in most of Europe is between 40 and 60 years, will retire in a few years, throwing Europe’s car industry in turmoil. Daimler, which has some of the oldest buyers, is beginning to feel the pain. (Read More…)
“Dieter Zetsche is lucky that he can stay for three more years,” writes Der Spiegel in Germany. The labor side of Daimler’s Supervisory Board had demanded Dr. Z’s head, the magazine writes. After long debates with Daimler’s Supervisory Board Chairman Manfred Bischoff, a compromise was found. (Read More…)
It is unusual that the supervisory board of a large German corporation denies the dearest wishes of its Management. If the board does not like a wish, the wish usually won’t be rendered in the first place, the tight community of executive assistants will see to it. It would be most unusual that the board denies the wish of its CEO to run the company for another five years. Daimler’s board did the impossible: It denied Dieter Zetsche’s wish for another five-year contract, and gave Dr. Z. three years to get Daimler’s house in order. It’s a mission impossible. The mustachioed will sit out his career as a fall guy. (Read More…)
TTAC readers who followed our past reporting on the developing relationship between Daimler and the Renault/Nissan Alliance will not be surprised in hearing what Carlos Ghosn and Dieter Zetsche told the press today. If you think you’ve heard it all before, you are right. You did here. (Read More…)
If the German magazine Focus is informed correctly, then Dr. Z’s days at Mercedes are counted. Focus heard that Wolfgang Bernhard will run Mercedes, while Dr. Z. will run all of Daimler. „In a second step, Bernhard could succeed Zetsche 2012 as Daimler CEO,“ says FOCUS. Currently, Bernhard is responsible for production and purchasing of Mercedes. (Read More…)
While the world was watching Volvo going to Geely, Germany was playing artillery observer: Daimler’s Zetsche came under a barrage of criticism last weekend. Not because of the graft accusations. That counts as necessary evil, at least if done abroad. Zetsche committed a mortal sin: He’s losing money, again. After losing billions in 2009, Daimler is supposed to turn the corner this year. But it doesn’t look that way. (Read More…)
Daimler’s Dieter Zetsche arrived at NAIAS with his left arm in a sling. What happened? Too much arm wrestling with unions or suppliers? Nah, that would be the right arm. Turns out, Dr. Z was injured by a woman. On the ski slopes in Austria, a female snowboarder had crashed into Zetsche. Left shoulder fractured. Dr. Z wore a helmet, which avoided more serious damage.
Germany’s BILD Zeitung reports that doctors at the Austrian hospital prescribed at least 6 weeks of strict convalescence. Says BILD: “Daimler’s boss ignored them. He popped some pain killers, flew to Detroit with shoulder and arm bandaged. Courageously, he presented the new Mercedes products.”