Daimler denies reports of CEO Zetsche stepping down early

Daimler AG CEO Dieter Zetsche

You have to be very careful with what you read out there, especially when it’s some “rumor” heard by some “insider” or “source.” Daimler AG this morning is denying reports that Dieter Zetsche will step down early from his CEO position and as the head of its Mercedes-Benz Cars division to make way for the return of Wolfgang Bernhard.

Germany’s Focus weekly magazine reported that Zetsche will be stepping down to make way for Bernhard. Bernhard, 49, was second to Zetsche at Chrysler from 2000 to 2004 before the company sold its stake in the Auburn Hills automaker.

Bernhard is currently in head of production and purchasing at Mercedes. In a statement released Saturday, Daimler said that CEO Zetsche will stay on until the end of 2013, when his contract runs out.

– By: Stephen Calogera

Source: Automotive News (Subscription Required)