Aug. 20 (Bloomberg) -- Daimler AG's head of branding at the Mercedes-Benz unit will become Chief Executive Officer of Rodenstock Group, a Munich-based eyeglass maker, Financial Times Deutschland reported.

Olaf Goettgens has yet to sign a contract, though both parties are in agreement, the German newspaper said, citing unidentified people close to the companies. Mercedes has not yet found a replacement, Financial Times Deutschland said.

Bridgepoint Capital Ltd., the private equity firm that owns Rodenstock, started a management overhaul a few months ago in an effort to expand the eyeglass maker's sales abroad, the newspaper said.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

Last Updated: August 20, 2008 01:16 EDT