Stuttgart – 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 AG 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 AG 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 AG 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.
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 on the provision of related services. Mercedes-Benz AG is one of the largest manufacturers of premium automobiles.
About Project Future
Daimler has spent two years preparing intensively for the new structure and has allocated its entire worldwide business to the various divisions. In October 2017, the first preparatory measures were initiated to bundle the Group’s car and van business as well as its truck and bus business into two legally independent entities. Following the most comprehensive due diligence in the company’s history, the Board of Management and the Supervisory Board of Daimler AG approved the new Group structure in July 2018.
The separation into independent companies required for the new structure was approved by the shareholders at the Annual Shareholders’ Meeting in 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 within the framework of a legally regulated transfer of operations. These employees have guaranteed job security until the end of 2029 (“Safeguarding the Future 2030”).
