FRANKFURT Feb 21 Daimler AG is
raising its performance bar by weeding out weaker rivals from a
peer group it used to benchmark its profitability and senior
managers' pay, the carmaker's annual report, published on
Under new rules for measuring Daimler's performance in 2014,
Renault SA and Fiat SpA would drop out
because their credit rating is below investment grade, and Volvo
Cars would be excluded because it is unlisted, it said.
In 2012 and 2013, Daimler set pay for management board
members in part by benchmarking the group's return on sales with
that of BMW AG and Volkswagen AG, Fiat,
Honda Motor Co, Volvo Car Group, Renault
and Toyota Motor Corp.
In 2014, the group would include "all stock-exchange-listed
vehicle manufacturers with an automotive proportion of more than
70 percent and an investment grade rating" and would use the
competitors' average return on sales calculated over a period of
three years to measure performance, the report said.
That would prevent Daimler from comparing itself to General
Motors Co or Peugeot because they do not have
an investment-grade rating.
Instead the maker of Mercedes-Benz limousines might add
Hyundai Motor Co and Ford Motor Co.