Photo: Daimler
The effects of long-time Mercedes-Benz leader Dieter Zetsche's retirement at the end of 2018 will soon be overcome, as German carmaker Daimler makes the final steps in rearranging its corporate leadership.
Under German corporate law, public companies are required to have one management board and one supervisory board. The supervisory board is the one tasked with significant business decisions.
The man who was selected to replace Dieter Zetsche as chairman of the management board back in September last year, Ola Källenius, has been confirmed to the new position. He will also assume the role of Chairman of the Supervisory Board of Daimler Truck.
Manfred Bischoff has been voted Chairman of the Supervisory Board Mercedes-Benz, while Martin Daum has been appointed Chairman of the management board of Daimler Truck.
The changes, which also include the appointment of new members of the board for the two entities, are scheduled to take effect when the corporate structure is entered in the commercial register, sometime around November 1, 2019.
“Daimler is structuring itself with more flexibility and focus with the three powerful legal entities Mercedes-Benz AG, Daimler Truck AG and Daimler Mobility AG under one common umbrella,” the carmaker said in a statement.
“Thanks to a specific focus on their customers, markets and core competencies of expertise, the business units will have more entrepreneurial freedoms with these new companies. “
Dieter Zetsche is one of the heavyweights of the German auto industry. He has been at the top of the company’s management since 1998 as member of the board and has led the executive team as chairman since 2006. His contract expires this December.
His replacement, Ola Källenius, has until recently been the head of Group Research and Mercedes-Benz Cars Development.
It's likely more changes in the management structure will be made in the following years, as the contract of Manfred Bischoff is scheduled to end in 2021.
The man who was selected to replace Dieter Zetsche as chairman of the management board back in September last year, Ola Källenius, has been confirmed to the new position. He will also assume the role of Chairman of the Supervisory Board of Daimler Truck.
Manfred Bischoff has been voted Chairman of the Supervisory Board Mercedes-Benz, while Martin Daum has been appointed Chairman of the management board of Daimler Truck.
The changes, which also include the appointment of new members of the board for the two entities, are scheduled to take effect when the corporate structure is entered in the commercial register, sometime around November 1, 2019.
“Daimler is structuring itself with more flexibility and focus with the three powerful legal entities Mercedes-Benz AG, Daimler Truck AG and Daimler Mobility AG under one common umbrella,” the carmaker said in a statement.
“Thanks to a specific focus on their customers, markets and core competencies of expertise, the business units will have more entrepreneurial freedoms with these new companies. “
Dieter Zetsche is one of the heavyweights of the German auto industry. He has been at the top of the company’s management since 1998 as member of the board and has led the executive team as chairman since 2006. His contract expires this December.
His replacement, Ola Källenius, has until recently been the head of Group Research and Mercedes-Benz Cars Development.
It's likely more changes in the management structure will be made in the following years, as the contract of Manfred Bischoff is scheduled to end in 2021.
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