Mercedes USA CEO Axed for Spending Company Funds on Home Renovation

Mercedes-Benz USA CEO Ernst Lieb (center) was dismissed this week over allegations of major breaches of compliance, according to a report by German newspaper Handelsblatt.

Lieb is reported to have paid for an addition to his home, as well as golf club fees at the expense of parent company Daimler. “Ernst was repeatedly warned, but he did it again,” said an unnamed Daimler executive. A spokesman for Daimler would not comment on the matter.

The Truth About Cars reports that earlier in the decade, another Mercedes executive was fired for similar improprities, and that even Lieb’s excellent standing within the company couldn’t save him from losing his job over the matter.

[Source: Fox Business]