Zetsche uses windfall gain to buy Daimler stock

Daimler CEO Dieter Zetsche has purchased roughly $1.51 million (1.15 million euros) worth of company stock using the proceeds from share options granted nearly 10 years ago.

Zetsche, whose contract was extended in February by just three years instead of the expected five, bought 22,000 shares at a price of 52.08 euros each on Wednesday, according to Daimler's Web site.

"With this share purchase, Dieter Zetsche is underscoring his confidence in a sustained and positive development for Daimler," said Joerg Howe, head of global communications, in a statement today.

"It is a signal to all the other Daimler shareholders."

Daimler said its CEO had funded Wednesday's stock purchase from the sale of roughly 1.25 million euros worth of shares that were acquired after exercising on Monday call options granted in 2004.