Volkswagen AG is offering 6.7 billion euros ($9.2 billion) for the rest of truckmaker Scania AB after determining that achieving deeper savings among its three commercial-vehicles units is only possible with full control of the Swedish company.
Daimler AG nominated former Volkswagen AG Chief Executive Officer Bernd Pischetsrieder to the luxury-car producer’s supervisory board as VW hired a previous Daimler manager to run heavy-truck operations.
Daimler AG extended Chief Financial Officer Bodo Uebber’s contract by five years, keeping him in charge of the manufacturer’s funding as it seeks to become the top luxury-car producer in sales and profitability.
Andreas Renschler, Mercedes-Benz operations chief and candidate to become parent Daimler AG’s chief executive officer, quit suddenly, one year after swapping jobs with the other leading contender to succeed Dieter Zetsche.
Daimler AG Chief Executive Officer Dieter Zetsche in early 2013 had to face down critics to hang onto his job. A year later, his strategy is gaining traction, with Mercedes-Benz closing the gap with bigger German rivals.
Volkswagen AG is considering raising its majority stake in Swedish truckmaker Scania AB to deepen cooperation with the carmaker’s two other commercial-vehicles units, two people familiar with the matter said.