Daimler AG CEO Dieter Zetsche is stepping down next year after 12 years with the company to make way for Ola Källenius, the company's research and development chief, reports the Wall Street Journal.

Why it matters: Källenius has been leading the company's push to produce electric vehicles and self-driving cars, making them one of the company's central focuses. Since 2009, per WSJ, Källenius has served in leadership roles at Mercedes-Benz — first as CEO of the U.S. division and later on its board as sales chief.