MAN Extends CEO's Contract By 5 Years

BERLIN (AP) -- German truck and machinery maker MAN SE has extended Chief Executive Georg Pachta-Reyhofen's contract by five years until June 2016.

MAN said its supervisory board made the decision Friday.

Pachta-Reyhofen, who has been a member of MAN's executive board for four years, took over the Munich-based company after Hakan Samuelsson resigned as CEO last November.