Daimler launches new corporate structure

STUTTGART, Germany, Nov. 4, 2019 /PRNewswire/ --
Daimler launches new corporate structure

Daimler Group comprising parent company and three operating subsidiaries

Increased customer focus and agility with Mercedes-Benz AG, Daimler Truck AG and Daimler Mobility AG

Daimler AG continues to be the only listed company

Ola KA¤llenius, Chairman of the Board of Management of Daimler AG and Mercedes-Benz AG: "Our new structure makes us more focused and competitive to ensure a successful transformation to 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 Daum, Chairman of the Board of Management of Daimler Truck AG: "We work for all who keep the world moving. We can only be successful if we make our customers successful a?? and we do this with products that combine two things: local market requirements and our globally leading technologies."

Franz Reiner, Chairman of the Board of Management 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 vehicle divisions. This business 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 car and van and the truck and bus businesses to two new subsidiaries took effect at the end of October with their respective entries in the commercial register. Three legally independent stock corporations now operate under the parent company Daimler AG: Mercedes-Benz AGA is responsible for Mercedes-Benz Cars & Vans. All Daimler Trucks & Buses activities are conducted at Daimler Truck AG. Daimler Financial Services, which has been legally independent for many years, was renamed Daimler Mobility AGA in July. In addition to its longstanding business with 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 AGA continues to be the only listed company. As the parent company with approximately 6,000 employees, it will be responsible for governance, strategy and control functions, and will provide Group-wide services. Mercedes-Benz AG and Daimler Truck AG are German stock corporations subject to codetermination and are based in Stuttgart. As required by law, the supervisory boards of the two companies will each comprise 20 members, ten representing the shareholders and ten representing the employees.
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