Daimler launches new corporate structure

STUTTGART, Germany, November 4, 2019 /PRNewswire/ —

  • Daimler Group comprising the parent company and three operating subsidiaries
  • Increased customer focus and agility with Mercedes-Benz AG, Daimler Truck AG and Daimler Mobility AG
  • Daimler AG remains the only listed company
  • Ola Källenius, Chairman of the Board of Directors of Daimler AG and Mercedes-Benz AG: “Our new structure makes us more focused and competitive to ensure a successful transformation towards the mobility of the future with our sustainable business strategy. It is crucial that we focus on our customers and inspire them with exciting and innovative products and technologies.”
  • Martin DaumChairman of the Board of Directors of Daimler Truck AG: “We work for everyone who moves the world. We can only succeed if we make our customers succeed – and we do that with products that combine two things: local market demands and our world-leading technologies.”
  • Franz ReinerChairman of the Management Board of Daimler Mobility AG: “We offer our customers unique and flexible mobility services. As an independent entity, we have been contributing to the success of the Daimler Group for many years in close cooperation with the automotive divisions. This entrepreneurial freedom is extremely important for the transformation we are driving together.”

The Daimler Group launched its new corporate structure as planned on November 1, 2019. The separation of the automobile and van activities and the truck and bus activities into two new subsidiaries took effect at the end of October with their respective registrations in the commercial register.

Three legally independent joint-stock companies now operate under the parent company Daimler AG: Mercedes-Benz AG is responsible for Mercedes-Benz Cars & Vans. All activities of Daimler Trucks & Buses are carried out at Daimler Truck AG. Daimler Financial Services, legally independent for many years, has been renamed Daimler Mobility AG in July. In addition to its long-standing activities in vehicle financing and fleet management, Daimler Mobility is also responsible for mobility services. With these three subsidiaries, Daimler is strengthening its customer focus and increasing the Group’s agility. Daimler S.A. remains the only listed company. As a parent company with around 6,000 employees, it will be responsible for governance, strategy and control functions, and will provide services across the Group.

Mercedes-Benz AG and Daimler Truck AG are German joint-stock companies subject to co-determination and based in stuttgart. In accordance with the law, the supervisory boards of the two companies will each be composed of 20 members, ten representing shareholders and ten representing employees.

Mercedes-Benz AG controls the global business of Mercedes-Benz Cars & Mercedes-Benz Vans with approximately 175,000 employees worldwide. Mercedes-Benz AG focuses on the development, production and sale of cars and vans and the provision of related services. Mercedes-Benz AG is one of the largest manufacturers of premium automobiles.

Ola Källenius, Chairman of the Management Board of Daimler AG and Mercedes-Benz AG: “Two years ago, we launched Project Future to initiate a future-oriented structural transformation at Daimler, with three independent entities under one roof. Our new structure makes We more focused and competitive to ensure a successful transformation towards the mobility of the future with our sustainable business strategy. It is crucial that we focus on our customers and inspire them with exciting and innovative products and technologies.

Daimler Truck AG is responsible for the worldwide truck and bus business. Around 100,000 employees worldwide develop, produce and market the products and services of Daimler Trucks & Buses. Together with its subsidiaries, Daimler Truck AG is one of the world’s largest manufacturers of commercial vehicles.

Martin DaumChairman of the Board of Daimler Truck AG: “Our customers are at the center of everything we do: we work for everyone who drives the world forward. We can only be successful if we make our customers successful – and we do this with products that combine two things: local market demands and our world-leading technologies.”

Daimler Mobility AG is responsible for the Daimler Mobility division with 13,000 employees worldwide and is active for the entire Daimler Group as a provider of financing, leasing, insurance and fleet management services. Daimler Mobility already finances and leases every second vehicle from Daimler AG worldwide and plans to further increase this proportion.

Franz ReinerChairman of the Management Board of Daimler Mobility AG: “We offer our customers unique and flexible mobility services. As an independent entity, we have been contributing to the success of the Daimler Group for many years in close cooperation with the automotive divisions. This entrepreneurial freedom is extremely important for the transformation we are driving together.”

About the Future Project

Daimler spent two years preparing intensively for the new structure and split all of its global activities between the various divisions. In October 2017, the first preparatory measures have been launched to consolidate the Group’s automotive and van activities as well as its truck and bus activities into two legally independent entities. Following the most comprehensive due diligence in the company’s history, the Executive Board and Supervisory Board of Daimler AG have approved the new Group structure in July 2018. The separation into independent companies required by the new structure was approved by shareholders at the General Meeting of Shareholders of May 2019 with an overwhelming majority of 99.75%. With very few exceptions, approximately 130,000 employees were transferred to the two new companies Mercedes-Benz AG and Daimler Truck AG as part of a legally regulated business transfer. These employees benefit from guaranteed job security until the end of 2029 (“Safeguarding the Future 2030”).

Further information from Daimler can be found at:
www.media.daimler.com and www.daimler.com

This document contains forward-looking statements that reflect our current beliefs about future events. The words “anticipate”, “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, “may”, “could”, “plan”, ” project”, “should” and similar expressions are used to identify forward-looking statements. These statements are subject to numerous risks and uncertainties, including an adverse change in global economic conditions, in particular a decline in demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; force majeure events, including acts of God, acts of terrorism, political unrest, armed conflict, industrial accidents and their effects on our sales, purchase, production or financial services activities; changes in exchange rates and pricing regulations; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to meet prices and adequately utilize our production capacities; increases in the price of fuel or raw materials; disruption of production due to material shortages, strikes or insolvency of suppliers; lower resale prices for used vehicles; the effective implementation of cost reduction and efficiency optimization measures; the business prospects of the companies in which we have a significant interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and governmental policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending governmental investigations or investigations requested by governments and the conclusion of pending or threatened legal proceedings; and other risks and uncertainties, some of which are described under the heading “Report on Risks and Opportunities” in this annual report. If any of these risks and uncertainties materialize, or if the assumptions underlying any of our forward-looking statements prove incorrect, actual results may vary materially from those expressed or implied by such statements. . We neither intend nor undertake any obligation to update these forward-looking statements as they are based solely on the circumstances as of the date of publication.

Daimler in brief
Daimler AG is one of the most successful automotive companies in the world. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the largest producers of premium cars and the world’s largest producer of trucks over 6 tons. Daimler Financial Services offers financing, leasing, fleet management, investment products and credit card and insurance brokerage, as well as innovative mobility services. Company founders Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in 1886. As a pioneer in automotive engineering, it is Daimler’s drive and commitment to shape the future of motoring in a safe and sustainable way. mobility. The group focuses on innovative and green technologies as well as safe and superior automobiles that seduce and fascinate. Daimler is therefore investing in the development of efficient powertrains with the long-term goal of local emission-free driving: from the high-tech combustion engines of hybrid vehicles to electric powertrains powered by battery or fuel cell. In addition, the company is following a consistent path towards intelligent vehicle connectivity, autonomous driving and new mobility concepts. This is just one example of how Daimler gladly accepts the challenge of assuming its responsibility towards society and the environment. Daimler sells its vehicles and services in almost every country in the world and has production facilities in EuropeNorth and South America, Asiaand Africa. Its current brand portfolio includes, in addition to the world’s most valuable premium car brand, Mercedes-Benz (Source: Interbrand-Study, 10/4/2018), as well as Mercedes-AMG, Mercedes-Maybach and Mercedes me, smart, EQ, Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses brands and Daimler Financial Services brands: Mercedes-Benz Bank, Mercedes-Benz Financial Services and Daimler Truck Financial. The company is listed on the stock exchange of Frankfurt and stuttgart (stock symbol DAI). In 2018, the Group sold 3.4 million vehicles and employed approximately 298,700 people. The group’s turnover amounts to 167.4 billion euros. The Group’s EBIT amounted to 11.1 billion euros.

SOURCE Daimler North America – Corporate Communications

Related links

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