Here's why people loathe CEOs

The chief of the U.S. Mercedes-Benz operations was let go over allegations that he used company funds to pay for personal expenditures, the WSJ is reporting, citing sources.

One alleged incident, people familiar with the matter said, involved work performed at Mr. Lieb's home near Mercedes's U.S. headquarters in Montvale, New Jersey, which records show Mercedes had bought for him to live in 2009. Another, according to one person familiar with the matter, was a personal flight he had taken to Australia, where Mr. Lieb had been stationed before his U.S. stint and is thought to have family. In both alleged instances, Mr. Lieb appears to have expensed the costs to the company, they said. After Daimler became aware of such examples, the company warned Mr. Lieb to put any other possible transgressions on the table. When another alleged incident later came to light, the company removed him from his position, one person said.