Daimler AG: Management Board appointments for Truck CEO Daum and Chief Financial Officer Wilhelm extended
Daimler AG's Supervisory Board extended the appointments of Martin Daum as Chief Executive of Daimler Truck AG until 2025 and Harald Wilhelm as Chief Financial Officer until 2027. Daum, who has been with Daimler since 2017, is set to transition to CEO of the publicly listed Daimler Truck company following its planned spin-off, pending shareholder approval in autumn 2021. Wilhelm's extended role includes oversight of Finance and Controlling at Mercedes-Benz AG. Supervisory Board Chairman Bernd Pischetsrieder praised their contributions towards transforming Daimler into two separate firms.
- Martin Daum's appointment extended until 2025, indicating continuity in leadership.
- Harald Wilhelm's role extended until 2027, ensuring experienced financial oversight.
- Martin Daum's future departure from the management board raises concerns about leadership transition.
- The spin-off of Daimler Truck AG is subject to shareholder approval, introducing uncertainty.
STUTTGART, Germany, April 23, 2021 /PRNewswire/ -- The Supervisory Board of Daimler AG at its meeting on April 23, 2021 extended the appointments of management board members Martin Daum and Harald Wilhelm.
The appointments of Martin Daum (61), as member of the board of management for Daimler AG and Chief Executive of Daimler Truck AG, were extended until 2025.
Martin Daum has been a member of the Daimler AG management board since 2017 after serving as President and CEO of Daimler Trucks North America. Following the planned spin-off of a majority stake in Daimler Truck AG, Martin Daum plans to leave the management board of Daimler AG and to take on the role of Chief Executive Officer at stock market listed Daimler Truck company. The spin-off is subject to shareholder approval at an extraordinary general meeting of Daimler AG in autumn 2021.
The appointment of Harald Wilhelm (55), management board member of Daimler AG, and responsible for Finance, Controlling and Daimler Mobility, was extended until 2027.
Harald Wilhelm has been a management board member since 2019 and was previously Chief Financial Officer of the Airbus Group. Harald Wilhelm's appointment as management board member responsible for Finance and Controlling at Mercedes-Benz AG was also extended.
"Martin Daum and Harald Wilhelm have done excellent work in the past years," said Supervisory Board Chairman Bernd Pischetsrieder. "We are convinced that they will continue their good work to enable the transformation of Daimler AG into two separate, successful, stock market listed companies."
Furthermore, Joe Kaeser was yesterday appointed to the supervisory board of Daimler Truck AG. It is envisaged that he will be proposed as the candidate for chairman of the supervisory board of the stock market listed Daimler Truck company.
Forward-looking statements:
This document contains forward-looking statements that reflect our current views about future events. The words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "can," "could," "plan," "project," "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates, customs and foreign trade provisions; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which are described under the heading "Risk and Opportunity Report" in this Annual Report. If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.
Daimler at a Glance
Daimler AG is one of the world's most successful automotive companies. With its Mercedes-Benz Cars & Vans, Daimler Trucks & Buses and Daimler Mobility divisions, the Group is one of the leading global suppliers of premium and luxury cars and one of the world's largest manufacturers of commercial vehicles. Daimler Mobility offers financing, leasing, fleet management, investments and insurance brokerage, as well as innovative mobility services. The company founders, Gottlieb Daimler and Carl Benz, made history by inventing the automobile in 1886. As a pioneer of automotive engineering, Daimler sees shaping the future of mobility in a safe and sustainable way as both a motivation and obligation. The company's focus therefore remains on innovative and green technologies as well as on safe and superior vehicles that both captivate and inspire. Daimler continues to invest systematically in the development of efficient powertrains – from high-tech combustion engines and hybrid vehicles to all-electric powertrains with battery or fuel cell – with the goal of making locally emission-free driving possible in the long term. The company's efforts are also focused on the intelligent connectivity of its vehicles, autonomous driving and new mobility concepts as Daimler regards it as its aspiration and obligation to live up to its responsibility to society and the environment. Daimler sells its vehicles and services in nearly every country of the world and has production facilities in Europe, North and South America, Asia and Africa. In addition to Mercedes-Benz, the world's most valuable luxury automotive brand (source: Interbrand study, 20 Oct. 2020), and Mercedes-AMG, Mercedes-Maybach, Mercedes-EQ and Mercedes me, its brand portfolio also includes commercial vehicle brands Mercedes-Benz Trucks Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses as well as the brands of Daimler Mobility: Mercedes-Benz Bank, Mercedes-Benz Financial Services, Daimler Truck Financial and Athlon. The company is listed on the Frankfurt and Stuttgart stock exchanges (ticker symbol DAI). In 2020, the Group had a workforce of around 288,500 and sold 2.8 million vehicles. Group revenues amounted to
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SOURCE Daimler North America - Corporate Communications
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