Friday 21 October 2011

Oh no you did'nt: Mercedes North America CEO fired over fraud

Reports suggest that Mercedes U.S CEO, Ernst Lieb has been fired on the grounds of corruption. German newspaper, Handelsblatt said that the former CEO violated multiple compliance rules.

Lieb was accused of expanding his home in New York, hiring a house-sitter, paying for golf club membership using Daimler capitol. He was also lending vehicles in exchange for airline upgrades.

Former Mercedes U.S CEO, Ernst Lieb
“Ernst was repeatedly warned, but he did it again,” a Daimler executive said. Mercedes added that Lieb was “relieved of his duties, effective immediately, though he would remain with the company in an unspecified role.”

Lieb had been CEO since 2006, where he became well-liked in the auto industry. He previously faced disciplinary action for using company funds to pay for a golf club membership for his wife. Lieb later refunded the company.

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