Dieter Zetsche he was one of the protagonists of the Mercedes recovery in Formula 1 after years of Red Bull domination. During his tenure as CEO, from 2006 to 2019, he also consolidated Daimler’s presence in the premium automotive market, leaving nothing to chance in investments also in AMG and Maybach. Now, nearly three years after his reign ended (replaced by Ola Källenius), the infamous Doctor Zee has found a new occupation in the automotive world.
After having acted as advisor and supervisor for several companies, Zetsche was appointed vice president for a so-called SPAC focused on acquiring young automotive companies or start-ups. This entity, acronym for Special Purpose Acquisition Companies, is a corporate vehicle, containing exclusively financial resources, set up with the aim of being listed on the stock exchange and, subsequently, identifying an unlisted operating company with which to integrate. Following this integration, the resulting company is indirectly listed on the stock exchange. The purpose is twofold: to raise capital through a public subscription offer (usually referred to as an IPO) and invest it to improve stock market performance.
Zetsche will therefore be a leading executive, with 45 years of experience, of a new SPAC under the control of Kensington Capital, a company that has already been a business leader in the hi-tech automotive companies QuantumScape and Wallbox. Kensington Capital Acquisition Corp IV has already raised $ 200 million, according to Automotive News, with the aim of a future acquisition of a company that already operates in the automotive world. Dieter Zetsche is now 68 years old; after graduating in engineering he was almost immediately hired by Daimler, where he spent practically his entire career first as a manager in the field of research and development, and then as an executive. From 2000 to 2005 he worked as CEO of Chrysler, when the American company was still connected to Daimler; he was the main actor in the separation of the two companies.
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