According to information from February 21, 2013, the German automaker Daimler extended its contract with the company’s chief executive officer, Zechech, only for a period of three years, aiming to equip investors about what their competitors may win. Confronted by global concerns.
Another news that surprised the market is that Wolfgang Bernhard, who has long served as Daimler's production director, will exchange positions with Andreas Renschler, head of global trucking at Daimler. In April 2013, he became the head of the Daimler truck business.
According to informed sources, at the last meeting, Daimler's board of supervisors merely authorised the extension of Cai Che’s contractual terms for three years to respond to the market’s murmur on relevant issues. Cai Che will receive a new agreement with a contract term ending at the end of 2016. This means that if Cai Che has been on contract for another three years, he will be the longest served CEO in Daimler history.
For Daimler’s decision, Henning Gebhardt, manager of German stocks in the DWS investment company of the Deutsche Bank Investment Division, welcomed the move. He pointed out: "Unlike Volkswagen and BMW, Daimler's management team has rarely completed specified performance guidelines in the past few years. Therefore, it is always forced to make profit warnings, but it still serves as the company's number one." In 2012, Daimler’s profitability was 10% lower than its earlier set profit target, which was equivalent to a loss of nearly 1 billion euros. Daimler said that the weak first quarter means that the company’s earnings may stagnate this year. At the same time, Daimler also cut its profitability target for Mercedes-Benz in 2013.
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