New corporate structure: What does this mean for business partners?

New corporate structure: What does this mean for business partners?

At the end of July 2018, the Board of Management and Supervisory Board of Daimler AG approved the new corporate structure for Daimler AG. The current divisions Cars and Vans, as well as Trucks and Buses, will be transformed into legally independent entities.

At the end of July 2018, the Board of Management and Supervisory Board of Daimler AG approved the new corporate structure for Daimler AG. The current divisions Cars and Vans, as well as Trucks and Buses, will be transformed into legally independent entities. Under the new structure Daimler plans to give its divisions greater entrepreneurial freedom, position them even closer to their markets and customers, while empowering them to enter partnerships more easily and quickly. Following approval by the Board of Management and Supervisory Board, the corporation has moved into the implementation phase of what it calls “PROJECT FUTURE”. The steps toward implementation will be taken on the basis of clear business and technical criteria. The measures approved by the boards in July 2018 require the final approval of the shareholders as a next step. The new structure shall be submitted for approval by shareholders at the Annual General Meeting of Daimler AG on May 22, 2019. The planned start of the new structure is scheduled for November 1, 2019.

Once the new structure is fully implemented, Mercedes-Benz AG will be responsible for the Mercedes-Benz Cars & Vans division, while the Daimler Trucks & Buses division will be under the leadership of Daimler Truck AG. Already legally independent, Daimler Financial Services AG shall be called Daimler Mobility AG from July 2019 on. Three powerful divisions will give the Daimler Group a more flexible and focused structure. The operative businesses of Mercedes-Benz Cars & Vans and Daimler Trucks & Buses will be transferred to the new legal entities. All three companies will be German co-determined stock corporations (“Aktiengesellschaften”) based in Stuttgart.

 

Daimler AG, the parent company, will exercise corporate governance, strategy and management functions and provide cross-divisional business services.

Under the following link you get more information on the following questions:
What does our journey to the new corporate structure look like? What exactly does this mean for you as our business partner? What are the next steps?

 

https://www.daimler.com/company/hivedown.html

 

Article update per 23.5.2019: At the Annual General Meeting on 22 May 2019 in Berlin, a large majority of the shareholders of Daimler AG approved the reorganization of the Daimler Group. More information: https://www.daimler.com/company/project-future.html

 


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Date:
May 13, 2019
Author:
Maike Sigloch, Carsten Wiebel
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