DaimlerChrysler to give execs only three-year terms


STUTTGART, Germany, Aug 25 (Reuters) - DaimlerChrysler will in future give top executives only three-year contract extensions rather than its standard five-year deals, the German-American carmaker said on Friday. "The supervisory board has decided to award as a rule a term of only three years when renewing the contracts of members of the management board," a spokesman said, citing efforts to improve corporate governance standards. Most companies in Germany extend senior managers' ...

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