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Mercedes to extend CEO Kaellenius' contract - source

Published 07/06/2023, 06:54 AM
Updated 07/06/2023, 08:21 AM
© Reuters. FILE PHOTO-Ola Kallenius, Chairman of the Board of Management for Mercedes-Benz, attends a strategy update event focused on software at the company's North America Research and Development center in Sunnyvale, California, U.S., February 22, 2023. REUTERS/

BERLIN (Reuters) -Mercedes-Benz wants to extend Chief Executive Ola Kaellenius' contract, a source with knowledge of the matter told Reuters on Thursday, confirming a report in the Handelsblatt business daily.

The person said no surprises were expected on the question of another term for Kaellenius, which would keep the 54-year-old at the helm of the German carmaker until at least mid-2029.

Kaellenius' contract is currently set to expire in May 2024. Handelsblatt reported that a supervisory board decision was expected on the matter this summer.

The company had no immediate comment.

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