Daimler CEO Dieter Zetsche will hand off next year to Ola Källenius to head the company. Källenius will be the first foreign CEO in over five decades.
The Stuttgart-based company announced that the leadership change will take place in May 2019 and that Zetsche would be nominated to become Chairman in 2021 after the term expires for the current Chairman, Manfred Bischoff.
Bischoff was quoted in media saying that "With Dieter Zetsche's intended appointment as Chairman of the Supervisory Board, we are ensuring continuity for the sustained success of Daimler AG."
Källenius is currently heading the group research and vehicle development for the Mercedes-Benz luxury car division. He is expected to take over Zetsche's dual mandate as both head of the entire company and the Mercedes division. Källenius' job is to be filled by Markus Schaefer, head of production and supply chain executive at Mercedes.
Bischoff in a statement also shared, "In Ola Kallenius, we are appointing a recognized, internationally experienced and successful Daimler executive."
On Kaellenius' appointment Zetsche shared in media, "In various positions at Daimler, Ola Kaellenius has earned not only my respect but also the recognition of his colleagues in very diverse areas. At the same time, he contributes a valuable international perspective."