Pischetsrieder would succeed longtime Chairman Manfred Bischoff, whose term is ending, as the Mercedes-Benz owner navigates a seismic industry transformation.
"Bernd Pischetsrieder is one of the most internationally recognized automotive experts," Bischoff said in a statement last week. "His expertise and wealth of experience are of outstanding importance for Daimler."
Pischetsrieder's nomination comes after former Daimler CEO Dieter Zetsche withdrew his candidacy amid opposition from some shareholders unhappy about the automaker's results during his tenure.
Pischetsrieder began his career at BMW in his home city of Munich in 1973 as a production planning engineer. He was head of BMW manufacturing and then CEO from 1993 to 2000. During that time, Pischetsrieder greenlighted a startling move to establish auto manufacturing in the U.S., with a plant in Spartanburg, S.C. That plant is now BMW's largest.
He also was instrumental in the acquisition of U.K.-based Mini to move the brand into the modern era.
He was CEO of Volkswagen Group from 2002 to 2006 but was ousted after he lost a power struggle with then-Chairman Ferdinand Piech.
Pischetsrieder has been a member of Daimler's supervisory board since 2014.