An exterior rearview mirror assembly for a vehicle includes a mirror head having a mirror casing and a mirror reflective element. A mounting arm is configured for attachment at a side of the vehicle, with the mirror head adjustably mounted at the mounting arm. An adjustment mechanism adjusts the mirror head position relative to the mounting arm between a retracted position and an extended position. The adjustment mechanism, when adjusting the mirror head position, also adjusts a mirror head angle relative to the side of the vehicle. When the mirror head is in the retracted position, a mirror head surface is at a first plane, while, when the mirror head is in the extended position, the mirror head surface is at a second plane. The mirror head surface is angled more towards the side of the vehicle when in the second plane than when in the first plane.