For those following news about Daimler, they have just announced that they will extend the contract of CEO Dieter Zetsche by five years. This will take him until the end of 2018, as a source familiar with the situation reported to Reuters.

As the source said, “The board meeting on February 6 is just to approve the preliminary annual earnings results. The first full board meeting where personnel issues will be discussed is on February 21.”

Other top executives will also have their contracts renewed. These include Research & Development Chief Thomas Weber, who should have his contract extended by five years. It also includes Christine Hohmann-Dennhardt, who heads compliance, and should also receive an extension. It is not clear at this time how long her extension will be for.