At the Annual General Meeting on 22 May in Berlin, a large majority of the shareholders of Daimler AG approved the reorganization of the Daimler Group. This will clear the way for Daimler to transfer its Cars and Vans business as well as its Trucks and Buses business into legally independent entities. The new Group structure (PROJECT FUTURE) will take effect when the hive-down is entered in the commercial register. Daimler aims to launch the new corporate structure on 1 November 2019.
What does our journey to the new corporate structure look like?
From this time forward, Mercedes-Benz AG will be responsible for the current Mercedes-Benz Cars and Mercedes-Benz Vans divisions, while the Daimler Trucks and Daimler Buses divisions will be joined in Daimler Truck AG. Daimler Financial Services AG, which is already legally independent, will be named Daimler Mobility AG beginning 24 July 2019. The two new companies, like the current Daimler AG and the future Daimler Mobility AG, will be co-determined German stock corporations with their headquarters in Stuttgart.
As the publicly listed parent company, Daimler AG will perform governance, strategy and management functions as well as provide Group-wide services.
With three powerful companies under a common umbrella, the Group is giving itself a more flexible and focused structure. With this new set-up, Daimler intends to give its divisions greater entrepreneurial freedom, strengthen their market and customer orientation, and allow them to enter new partnerships more easily and quickly. By focusing the new companies on their customers, markets and core competencies, new growth and earnings potential can be tapped. In addition, strengthening Daimler's divisional structure serves the goal of securing the long-term commitment of current and future investors and partners.
The next steps and additional important information for you as a customer or supplier
In order to ensure the necessary transition as of the hive-down date, we would like to take this opportunity to provide you with the information you need to know at an early stage and in a targeted way. You can therefore find the changes relevant to you, descriptions about the implementation, as well as clarifications as to which areas are not affected by the changes on the following information pages.
We ask that you review this information carefully and make the relevant information available within your company or to your partners and take any necessary steps.