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Daimler's Zetsche Gets Thumbs Up

Daimler AG Supervisory Board, facing a troubled European economy and fierce competition from rivals in the luxury segment, has given a three-year extension to Dieter Zetsche, the maker’s chairman and the head of its flagship Mercedes-Benz brand. There had been some question about whether the contract would be renewed for Zetsche, who turns 60 in May, in light of problems that include slumping sales in China, lagging margins and the ongoing crisis in Europe. But it became clear that Daimler’s board wasn’t willing to risk a leadership change at the moment.

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