Over more than 40 years at the company, Dieter Zetsche became one of the most recognizable faces of German motor manufacturing. He stood down at a meeting of shareholders after 13 years at the helm.
Daimler chief Dieter Zetsche is just the latest to have his retirement pay package highlighted. Though modest by international standards, these payoffs reward mediocrity and must come to an end says DW's Timothy Rooks.
The Daimler chairman with the walrus mustache is one of the few German CEOs that is instantly recognizable. Set to retire after 13 years, he leaves behind a company struggling to be relevant in a digital world.
The outgoing head of Daimler, which makes Mercedes-Benz cars, will pocket more than €1 million annually and is eligible for even more. The sum is reportedly a record pension package for the head of a German company.
Economy Minister Peter Altmaier and President Vladimir Putin met at the new plant near Moscow where Mercedes-Benz cars are to be made. Chancellor Merkel's office stressed it was not a return to business as usual.
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