No news about Mercedes' next CEO disappoints analysts

Daimler's CEO, Dieter Zetsche, has no plans to let his grip of the Daimler empire loosen. The  58 year old chief-executive's contract runs out in 2013 and he sees no need to groom a successor.

Analysts have been concerned about Daimler's performace on the DAX stock exchange where it is registered. "For the first time in history, BMW is now worth more on the stock exchange than Daimler," said Auto industry analyst Arndt Ellinghorst of Credit Suisse, pointing to the Munich-based rival that is about a third smaller in revenue terms, "and Mercedes now has a margin comparable to that of (VW's Czech value brand) Skoda.

Zetsche said "I would also be much worse a Mercedes chief if I didn't have the opportunity to shape its fortunes directly and with all consequence and determination," Zetsche added that accepting the post was "one of the best decisions I made so far".

Investors will be far more concerned by concerned by Daimler's failure to meet market expectations, having omitted to even provide a divident in 2009.

Zetsche said he did not favour any one candidate to replace him one day at the helm of either Mercedes or Daimler, despite widespread belief that the job is Bernhard's for the taking. He said  "We have no crown princes. I have six boardroom colleagues here that all do an excellent job performing their respective duties. No considerations have already been made about when this question (about succession) will become an issue and certainly no decisions -- even less has there been any deliberation made about how."

Source: Reuters