Board of Management and Supervisory Board of Daimler AG approve further development of the divisional structure of the Group
On July 26, 2018, the Board of Management and the Supervisory Board granted their approval for the implementation of the new corporate structure for Daimler AG. The related worldwide audits of the organizational and tax implications have been successfully completed. With the new structure, Daimler aims to give its divisions greater entrepreneurial freedom, to become even more market and customer-focused, and to make it possible to enter into partnerships more easily and quickly. Now that approval has been granted by the Board of Management and the Supervisory Board, “Project Future” can now be implemented. As the next step, the measures decided upon require the approval of the shareholders. A draft proposal for approval is to be presented to the Annual Shareholders’ Meeting of Daimler AG on May 22, 2019.
Daimler sets the course for the future
The regular term of office for the Chairman of the Supervisory Board, Dr. Manfred Bischoff, is scheduled to end after the conclusion of the Annual Shareholders’ Meeting in 2021. In view of the challenges presented by the transformation of the automotive industry, the Supervisory Board aims to prepare a suitable process of succession at an early stage. The Supervisory Board has therefore announced its intention to propose to the shareholders at the Annual Shareholders’ Meeting in 2021 that Dieter Zetsche be elected as a member of the Supervisory Board. Manfred Bischoff intends to recommend the election of Dieter Zetsche as his successor as Chairman of the Supervisory Board at the end of the Annual Shareholders’ Meeting in 2021. In order to ensure compliance with the two-year cooling-off period, Dieter Zetsche will step down from his position on the Board of Management of Daimler AG and as Head of Mercedes-Benz Cars at the conclusion of the Annual Shareholders’ Meeting in 2019. In view of this development, the Supervisory Board of Daimler AG decided in its meeting on September 26, 2018, to appoint Ola Källenius as Chairman of the Board of Management of Daimler AG, effective at the conclusion of the 2019 Annual Shareholders’ Meeting, and also to appoint Ola Källenius as the Head of the Mercedes-Benz Cars division for a new term of five years.
Bodo Uebber, the member of the Board of Management of Daimler AG with responsibility for Finance & Controlling and Daimler Financial Services, informed the Chairman of the Supervisory Board, Manfred Bischoff, on October 7 that he will not seek an extension to his current term of office, which expires in December 2019.