Photo: Daimler
A reshuffling of major proportions of Daimler's two executive boards was announced on Wednesday by the German auto group, with executives trading places all the way up to the chairman of the management board, Dieter Zetsche.
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 major business decision.
All the personnel moves announced by Daimler are caused by the expiring of the term of office of the Chairman of the Supervisory Board, Manfred Bischoff, in 2021.
Even if that moment is nearly three years away, Daimler planned to properly prepare for the moment and said the current most visible executive of the company, Dieter Zetsche, will be taking Bischoff’s place.
Because Daimler estimates it would take Zetsche two years to “cool off” from his current role, the executive will step down at the shareholders’ meeting in 2019. He will be replaced by the current head of Group Research and Mercedes-Benz Cars Development Ola Källenius.
“In various positions at Daimler, Ola Källenius has earned not only my respect but also the recognition of his colleagues in very diverse areas,” said Zetsche in a statement.
"At the same time, he contributes a valuable international perspective. I therefore very much welcome the fact that the Supervisory Board has made this forward-looking personnel decision.”
Dieter Zetsche is one of the heavyweights of the more than a century-old company. 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.
Coincidently, his current contract with Daimler expires in December 2019.
Ola Källenius, the man replacing him, has been on the management board since 2015. His current contract expires in 2022.
In the document attached below you can find all the personnel changes announced by Daimler.
All the personnel moves announced by Daimler are caused by the expiring of the term of office of the Chairman of the Supervisory Board, Manfred Bischoff, in 2021.
Even if that moment is nearly three years away, Daimler planned to properly prepare for the moment and said the current most visible executive of the company, Dieter Zetsche, will be taking Bischoff’s place.
Because Daimler estimates it would take Zetsche two years to “cool off” from his current role, the executive will step down at the shareholders’ meeting in 2019. He will be replaced by the current head of Group Research and Mercedes-Benz Cars Development Ola Källenius.
“In various positions at Daimler, Ola Källenius has earned not only my respect but also the recognition of his colleagues in very diverse areas,” said Zetsche in a statement.
"At the same time, he contributes a valuable international perspective. I therefore very much welcome the fact that the Supervisory Board has made this forward-looking personnel decision.”
Dieter Zetsche is one of the heavyweights of the more than a century-old company. 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.
Coincidently, his current contract with Daimler expires in December 2019.
Ola Källenius, the man replacing him, has been on the management board since 2015. His current contract expires in 2022.
In the document attached below you can find all the personnel changes announced by Daimler.
Google News