BERLIN -- Mercedes-Benz CEO Ola Kallenius will have his contract extended, a source with knowledge of the matter told Reuters.
Kallenius' contract is currently set to expire in May 2024.
The source said no surprises were expected on the question of another term for Kallenius, which would keep the 54-year-old at the helm of the German automaker until at least mid-2029.
Handelsblatt earlier reported that a supervisory board decision was expected on the matter this summer.
Mercedes had no immediate comment.