Wolfgang Bernhard has resigned from the Board of Management of Daimler AG, the company announced on Feb. 10. Daimler said that Bernhard, 56, who was worldwide head of Daimler Trucks & Buses, “will be released from his duties with immediate effect.”

Chairman of the Board of Management and Head of Mercedes-Benz Cars Dieter Zetsche will head Daimler Trucks & Buses until a successor is named.

Bernhard notified Chairman of the Supervisory Board Manfred Bischoff and Zetsche of his intention not to extend his current contract, which expires in February 2018.  “Wolfgang Bernhard will leave the company at his own request and for personal reasons,” the Germany-based company said in a statement.

"We regret this resolution, but we have a number of outstanding managers to succeed [him], said Bischoff. “We thank Wolfgang Bernhard for his committed work and respect his personal decision.”

A Reuters report speculated that Bernhard chose not to renew his contract because last year Daimler extended Zetsche's contract and that move effectively precluded Bernhard being named his successor in 2019.

Bernhard was named head of the Mercedes-Benz Vans division in 2009 and was appointed to the Board of Management of Daimler AG in February 2010. Until March 2013, he was Board of Management Member for Production and Procurement of Mercedes-Benz Cars & Mercedes-Benz Vans. Since April 2013, he has been responsible for Daimler Trucks & Buses.