Dieter Zetsche, CEO of Daimler AG, expects that his contract with the company will be renewed, according to sources close to the situation.

"At the moment there are good indications that I will continue as the head of Daimler," said Zetsche.

Daimler's supervisory board will approve the agreement on Feb 6, to extend Dieter Zetsche's contract until the end of 2018, according to sources.

Zetsche started serving as Daimler's CEO from January 2006. His current contract is set to expire at the end of this year.