DaimlerChrysler to keep managers Grube, Renschler, source says

Reuters / October 18, 2006 - 9:00 am FRANKFURT -- DaimlerChrysler's supervisory board is set to extend the contracts of corporate development chief Ruediger Grube and truck division head Andreas Renschler, a source close to the matter said today.

Under German law, companies can extend senior managers' contracts in the year before they expire, and those for Grube and Renschler run out in September 2007. The supervisory board is set to approve the extensions next week, the source said.

The world's fifth-biggest carmaker decided in August to give top executives three-year contract extensions rather than the five-year deals it had previously awarded.

DaimlerChrysler said it does not comment on personnel issues.