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Zetsche's CEO tenure extended through 2016 at Daimler

There appear to be two takes on Daimler CEO Dieter Zetsche having his contract extended for three more years, to 2016. A report in The Detroit News quotes the chairman of Daimler's supervisory board, Manfred Bischoff, talking up the stability at the top, "With today's extensions of the contracts of Dieter Zetsche and Thomas Weber, we are maintaining the important continuity at the top executive level." Bischoff also stated that that Zetsche has a plan to "further enhance Daimler's overall performance."
Over at Reuters, though, the three-year extension was seen as a lack of complete confidence in Zetsche's plans, since his contract was supposedly meant to be extended by five years. A spokesman said the board decided to extend executive contracts by only three years if the person was 60 or would turn 60 during the contract, but that was news to observers. Zetsche wants to make Mercedes-Benz the top selling luxury manufacturer globally by 2020, but has fallen to third place behind Audi and BMW. It hasn't held the top spot 2005, and investors judged it valued at half that of BMW at the end of 2012 once Daimler's truck business was subtracted.
Analysts cites the fact that Daimler stock hasn't bested its rivals but twice in twelve years, and that the company revised its profit target downward last year by nearly one billion euros, warning of stagnant earnings this year and will miss its original margin target for 2013.

Renault-Nissan rejig how they manage Daimler partnership, sources say

PARIS — The Renault-Nissan-Mitsubishi alliance is set to scrap a role overseeing ties with Daimler in favor of individual relations with the German group, three sources told Reuters, as they try to better manage a partnership that has not met initial hopes. The shift comes as alliance-level executive Jacques Verdonck, who was in charge of the cooperation with Daimler, retires at the end of the month, the sources familiar with the matter said. France's Renault will instead rely on its head of partnerships, Sandra Gomez, while Nissan will do the same with Catherine Perez. Mitsubishi will also have a person in charge of partnerships, the sources said, adding the bilateral approach was in line with the new "leader-follower" strategy of the alliance. That involves leaning on the strengths of each carmaker in certain areas. Renault and Daimler declined to comment, while Nissan could not immediately be reached for comment. The plan marks another shift following the end of the Carlos Ghosn era at the alliance. The architect of the Franco-Japanese partnership, who also extended the collaboration to Daimler, was arrested on financial misconduct charges in Japan in late 2018, before fleeing to Lebanon in 2019. He denies any wrongdoing. His exit strained already difficult relations between Nissan and Renault, which are now working to get back on track with cost-saving joint production projects among other steps. The partnership with Daimler - which owns high-end brand Mercedes-Benz, contrasting with the more accessible models produced by the others - has also looked in danger of losing steam. Nissan and Renault, both hit by losses, recently sold down their stakes in the German group. Collaborations on Renault's compact Twingo car and Daimler's Smart model are set to end, and some targets for industrial cooperation have been downgraded over the years. But Daimler still has a factory in Mexico with Nissan, and has been exploring the possibility of jointly developing at least one large van model with Renault. An industry shift towards electric vehicles could yet yield other opportunities, one of the sources said. "The collaboration with Daimler is at present made up of Renault-Daimler projects, Nissan-Daimler ones and some between the three," another of the sources said, with yet another saying that the changes reflected a more pragmatic approach.

Time to catch up with Jay Leno's Garage, including his Lamborghini Espada restoration

If you're already jealous of the time, effort and money that Jay Leno can devote to his massive car collection, prepare to get a little greener with envy with this latest video from Jay Leno's Garage. Instead of the usual format of discussing a model for about ten minutes and then taking it out for a test drive, this week Leno gives viewers on a tour of over a dozen projects concurrently happening in his stable. The breadth of the vehicles shown and the things being done to them run the entire span of the automotive hobby. At the same time, Jay's shop is working on just a simple restoration of his 1969 Lamborghini Espada (pictured), and at the other side of the building, the team is rebuilding a wood-bodied 1914 Detroit Electric from scratch. He eventually plans to slot a more modern electric drivetrain into it. If bikes are more your interest, there's a freshly completed Brough Superior just waiting for a ride, and if American models are your thing, a Ford Bronco is getting a Coyote V8 installed into it. You have some very specific tastes if you can't watch this clip and start wishing at least one of these vehicles could be in your own garage. Other than the personal projects his mechanics are working on in the shop, Jay gets to have them all, plus plenty more.