Daimler Will Extend CEO Zetsche’s Contract Through 2019

Daimler AG's supervisory board tells investors it intends to extend CEO Dieter Zetsche's contract for three years when the current agreement expires at the end of 2016.

Zetsche has vowed to outsell rival BMW AG in the luxury-car segment. Currently Daimler's Mercedes-Benz brand ranks third behind BMW and Audi AG.

He also aims to generate an average 9% return on sales for Daimler's vehicle operations by about the end of the decade: 10% for Mercedes-Benz, 9% for Mercedes-Benz Vans, 8% for Daimler Trucks and 6% for Daimler Buses.