Supervisory Board of Daimler AG elects Bernd Pischetsrieder as new Chairman

Rhea-AI Summary

Daimler AG announces significant changes in its Supervisory Board following its Annual Meeting on March 31, 2021. Long-time Chairman Manfred Bischoff steps down, succeeded by Bernd Pischetsrieder. Shareholders approved a dividend of €1.35 per share, increasing from €0.90 in 2019, resulting in a total payout of €1.4 billion. The meeting saw a 57.21% representation of share capital, with management actions ratified by over 95% of shareholders. New board members include Elizabeth Centoni, Ben van Beurden, and Martin Brudermüller.

Positive

• Dividend approved: €1.35 per share, up from €0.90 in 2019
• Total dividend payout increased to €1.4 billion from €1.0 billion
• High shareholder approval for management actions: 97.94% for Board, 95.17% for Supervisory Board

Negative

• None.

STUTTGART, Germany, March 31, 2021 /PRNewswire/ -- 

• End of an era: long-time Chairman Manfred Bischoff steps down from Supervisory Board
• New Supervisory Board members: Elizabeth Centoni, Ben van Beurden and Martin Brudermüller
• Dividend: shareholders approve €1.35 per share (2019: €0.90)
• Representation: 57.21% of the share capital
• Overwhelming majority: Annual Meeting approves management proposals

The Supervisory Board of Daimler AG (ticker symbol DAI) on Wednesday elected a new Chairman at its constituent meeting following the virtual regular Annual Meeting on the 2020 financial year. Bernd Pischetsrieder succeeds Manfred Bischoff, who is stepping down from the Supervisory Board at his own request after 14 years as Chairman. Bischoff's departure marks the end of an era. "It is fair to say that Manfred Bischoff has left his mark on a piece of German industrial history. This company is extremely well positioned for the future, and that is largely thanks to him," said Ola Källenius in his speech at the virtual Annual Meeting. The Supervisory Board proposed Bernd Pischetsrieder as Bischoff's successor in December 2020.

After his successful management career, Manfred Bischoff was appointed to the Supervisory Board of DaimlerChrysler, and in 2007, he took over the chairman's role. He repeatedly helped the company to make groundbreaking strategic decisions, which helped pave the way for the return of the Mercedes-Benz brand to the top of the premium segment. In five decades of change, Bischoff was a pillar of support. To retain his services at the company he will be awarded the title of Honorary Chairman of the Supervisory Board of Daimler AG.

The shareholders elected Elizabeth Centoni, Chief Strategy Officer and General Manager of Applications at Cisco Systems, Inc., Ben van Beurden, CEO Royal Dutch Shell plc, and Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE, to the Supervisory Board by a large majority. They succeed Petraea Heynicke and Jürgen Hambrecht, who are also stepping down from the Supervisory Board along with Manfred Bischoff. The term of office of the newly elected members begins at the end of the Annual Meeting in 2021 and expires at the end of the Annual Meeting in 2025.

The shareholders approved the management's proposals with an overwhelming majority and resolved, among other things, to distribute a dividend of €1.35 per share for the past financial year (2019: €0.90). The total dividend payout amounts to €1.4 billion (2019: €1.0 billion). The dividend will be paid out on April 7, 2021 – the third business day after the resolution of the Annual Meeting – to all shareholders who held shares in Daimler AG on March 31, 2021.

The actions of the members of the Board of Management were ratified by 97.94% of the share capital represented at the Annual Meeting and those of the Supervisory Board by 95.17%. The virtual Annual Meeting was followed by more than 4,000 viewers on the internet. A total of 57.21% of the share capital was represented.

The main results at a glance:

Dividend per share	€1.35
Dividend payout	€1.4 billion
Ratification of Board of Management actions	97.94%
Ratification of Supervisory Board actions	95.17%
Share capital represented	57.21%

Further information on Daimler is available on the internet:
www.media.daimler.com and www.daimler.com

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 €154.3 billion and Group EBIT to €6.6 billion.

 

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SOURCE Daimler North America - Corporate Communications

FAQ

What is the dividend per share announced by Daimler AG for 2021?

Daimler AG announced a dividend of €1.35 per share for 2021, an increase from €0.90 in 2019.

Who succeeded Manfred Bischoff as Chairman of Daimler AG?

Bernd Pischetsrieder succeeded Manfred Bischoff as Chairman of Daimler AG.

What percentage of shareholders approved the management's proposals during Daimler AG's Annual Meeting?

The management's proposals were overwhelmingly approved, with 97.94% of shareholders ratifying Board actions.

When will the dividend be paid out to Daimler AG shareholders?

The dividend will be paid out on April 7, 2021.

Who are the new members of the Supervisory Board of Daimler AG?

The new members include Elizabeth Centoni, Ben van Beurden, and Martin Brudermüller.