reports that Daimler CEO Dieter Zetsche
(pictured) isn't quite ready to hand over the keys to the Mercedes-Benz
kingdom. Zetsche currently serves as the head of both Daimler
, and investors had hoped that the CEO would begin grooming his second in command, Wolfgang Bernhard
, to take over at the German automaker. That doesn't look to be happening any time soon, however, even though Zetsche's contract runs out at the end of 2013. According to the report, the CEO maintains that his current position has made him more effective at both Daimler and Mercedes-Benz, though evidently some industry analysts beg to differ.
For the first time in history, Daimler stock is worth less than that of BMW
despite the fact that BMW
is one-third smaller in terms of revenue. While Daimler has seen its stock prices increase by 27 percent, other automakers have enjoyed significantly larger gains. Reuters
points out that Volvo
has leaped by 90 percent and that BMW has doubled its stock price recently.
Investors are looking for answers, and most would like to see a change in management to help improve the company's fortunes.