22.5.2019 Berlin. This year’s annual meeting of Daimler AG on the Berlin exhibition grounds highlights important strategic choices: The shareholders are to vote on a new group structure, with the transformation of the auto mobile business in a legally independent units, and Daimler AG as the parent company.
On the agenda is the further Transformation of the car manufacturer in the direction of the mobility service provider as well as the growing importance of a sustainable business strategy so. With the expiry of the annual General meeting of long-standing Board of management Chairman Dr. Dieter Zetsche will hand over to his successor, Ola Källenius, who wants to develop with a in Parts of the newly appointed Management Team of Daimler from a strong core business more. At the annual General meeting of around 6,000 shareholders are expected to be as in the previous year.
“Daimler’s success is based on in-depth automotive expertise, and strategic vision. The Daimler strategy for a climate-neutral mobility is to allow the customer to make a contribution to climate protection,“ said Manfred Bischoff, Chairman of the Supervisory Board of Daimler AG, the shareholders at the annual General meeting. “Generally speaking, the question of the future of individual mobility. It is one of the Central challenges of the automotive industry. With security, it is not alone sufficient, fascinating cars with future-oriented drives offer. It is up to the car manufacturers, mobility solutions in urban Metropolitan areas, to reinvent. To be able To all of these issues stem, you must tune the performance in our core business.“
Daimler AG has increased to 2018, despite the difficult conditions, sales and revenue further. The consolidated EBIT and the consolidated result reached a solid level. The group with 298.683 (i. V. 289.321) employees increased sales by 2.4% to 3.4 (i. V. 3.3) million vehicles achieved the growth target. The turnover what 167.4 (i. V. 164,2) billion €. The EBIT, what are 11.1 (i. V. of 14.3) billion € and was thus significantly below the level of the previous year. The result of the group decreased to 7.6 (i. V. 10,6) billion€. Earnings per share declined to €6,78 (i. V. 9,61).
The Board of management and the Supervisory Board propose a dividend of 3.25 (i. V. of 3.65) € per share. The total Dividend is 3.5 (I. V. 3.9) billion €. The proposed dividend is the second-highest in the history of the company. The dividend will be paid on the third business day following the resolution of the General meeting, the 27. May 2019, to be distributed to all shareholders on the register on 22. May 2019, with shares of Daimler AG and hero.
“Daimler has not progressed significantly in the past years – even if we are with the latest quarterly results and the share price are satisfied,” said Dieter Zetsche, CEO of Daimler AG and head of Mercedes-Benz Cars at the annual General meeting. In retrospect, Daimler went through different phases. “For a time we were as a Cleaner on the go and the company have re-oriented on what we can do best: cars, the rationally convincing and emotionally inspiring. Then it went on the Offensive. With Mercedes-Benz, we wanted to lead up to 2020 in the premium segment. Since 2016 we are back to the number One. In the commercial vehicle sector, we were able to expand the leadership position. This Offensive what is not an end in itself. Thus, we have developed the necessary strength to the much larger task of the leadership to take the role of: the Transformation of the automotive industry. To this end, we have initiated the biggest change in our history. This change is in full swing. It includes our products and technologies, as well as our business model and our corporate culture.“
Content
- PROJECT FUTURE is to be voted on
- Sustainability in the corporate strategy and in the compensation model
- Changes in the Supervisory Board
- Daimler is expected in 2019 growth in sales, revenue and EBIT
- Changes in the Executive Board
PROJECT FUTURE is to be voted on
The shareholders of Daimler AG are invited to the annual General meeting, on the proposed new group structure (PROJECT FUTURE) to vote. By the approval of the shareholders of the way for the group would then be free to transfer the passenger Car and Van business as well as the Truck and Bus business through a spin – off to legally independent units. Effective with the spin-off by entry in the commercial register would. The aim is to Start in the new company structure, then it will be 1. In November 2019. From this point on, the Mercedes-Benz AG will be responsible for the business fields Mercedes-Benz Cars and Mercedes-Benz Vans, while the divisions, Daimler Trucks and Daimler Buses, is under the management of the Daimler Truck should be. The already legally independent Daimler Financial Services AG, is from 24. July 2019 Daimler Mobility AG hot. The two new companies would be like today’s Daimler AG and the future of Daimler Mobility AG co-determined German stock companies with headquarters in Stuttgart, Germany.
The Daimler AG as the listed parent company is to exercise Governance, strategy and control functions as well as the group providing cross-cutting services. With three powerful units under a common roof, the group ensures a more flexible and focused. With the new structure, Daimler wants to give its business fields, more entrepreneurial freedom, the market and customer orientation, as well as collaborations easier and faster. By targeted alignment of the new companies on their customers, markets and core competencies into new growth and earnings potential. In addition, the strengthening of the divisional structure-will be used to retain existing long-term investors and new investors and partners.
PROJECT for the FUTURE would be the biggest realignment in the more than 130-year history of the company and, in addition to the operative business activities in Germany, around 800 companies in over 60 countries. In terms of sales and total number of employees of the Daimler AG, it is also the largest reorganization that has taken place in the past few years in a German group. Approximately 130,000 employees of Daimler AG in Germany will change under a legally regulated period of transition in the two new companies and have been informed early and comprehensively.
“Daimler has to be the claim in the new mobility world leader. The maximum demands for innovation and agility to respond quickly to changes, to take advantage of new growth opportunities and to continue to be successful. With the PROJECT of the FUTURE group, Daimler is the structure that supports the strategic orientation and bears,“ said Bischoff. Strong customer-oriented business fields, increase the speed and agility of Daimler, in view of the technical and financial challenges in the sector.
Sustainability in the corporate strategy and in the compensation model
With a view to future challenges and the required social acceptance of the Daimler sustainability is embedded in business strategy. “Our claim is sustainable Action in all areas of the business by the resource conservation and compliance with environmental legislation on data protection to ensure respect for human rights. In the center of the attention, the low-emission car is currently, but mainly. Because the vehicle stock is going to rise because of global demand. The more urgent is the emissions must continue to fall. The Paris climate agreement is more than an obligation – it is a Conviction,“ said Zetsche.
Under the Heading of “Ambition 2039” has set the business field Mercedes-Benz Cars ambitious but realistic goals. Here, the auto manufacturer considered the issue of sustainability holistically along the entire value-added chain. The goal is the Transformation of the entire portfolio of new passenger cars on a CO2-neutral supply from 2039. This includes topics such as raw materials and the supply chain, the production of the vehicles, to the use phase and recycling concepts. For the commercial vehicles of similar transformation plan are being developed.
To set at the same time in the Top-Management, the right incentives for a sustainable development of the company and the greater importance of the Transformation in the direction of a mobility service provider, the management Board compensation. “Our Central concern is with adaptation, it is, incentives, especially in the year-end bonus, on the implementation of the new corporate strategy, the future of the Transformation and sustainability: Daimler AG wants to remain a leading vehicle manufacturer and to develop, at the same time one of the leading providers of mobility. In addition, the sharpening will not be sought in the collective financial objectives and criteria, the reduction of methodological complexity and a higher degree of transparency,“ said Bischoff. So, the articles of incorporation of Daimler AG should be adjusted with the approval of the shareholders systematically on the growing importance of mobility services, by “mobility and transportation services and k of the key concepts” as object of the company is to be included.
Changes in the Supervisory Board
With the conclusion of the annual General meeting, the term of office of CEO Joe Kaeser and Bernd Pischetsrieder as a shareholder representative on the Supervisory Board ends. The Board proposes the re-election of two members for a term of five years. The end of the year 2018, the workers ‘ representatives and the Chairman of the works Council, plant Untertürkheim, Wolfgang Nieke is excreted, from the control panel. In its place, the elected replacement member, Michael Häberle, Chairman of the works Council, Untertürkheim occurred plans.
Daimler is expected in 2019 growth in sales, revenue and EBIT
For the current year, Daimler continues to assume that the paragraph (2018: 3.4 million vehicles) due to the attractive model portfolio in all business fields, as well as the continuing positive development of the global automotive markets slightly higher. On the Basis of the expected sales growth is still expected, with a slight increase in sales. In a persistently volatile environment, the company expects in total, with a slight increase in group EBIT.
The fields of business expect yields the following Revenue:
– Mercedes-Benz Cars: return on sales of 6% to 8%,
– Daimler Trucks: a return on sales of 7% to 9%,
Mercedes-Benz Vans: return on sales 0% to 2%,
– Daimler Buses: return on sales of 5% to 7%,
– Daimler Financial Services: return on equity of 17% to 19%.
“Our Start in 2019 behavior failed. We had expected, but that doesn’t make it better. In particular, with the current level of Profitability, we can and we don’t want to be satisfied. Generally speaking, the conditions will be easier. In addition to the external factors, we feel now: The Transformation of The company has also financially“, said Zetsche. In the past five years, the investments had risen by more than 50 percent. In the case of Mercedes-Benz Cars, the expenses for research and development have doubled, even almost. The task of the company is to limit the cost of new technologies in the car for the customer. Therefore, should be reduced in the entire company, the cost and the efficiency increased.
“Everything is put to the test of fixed and variable costs, non – personnel and personnel cost, investment project, value-added depth, and product range,” said Zetsche. The goal is to come at Mercedes-Benz Cars and Mercedes-Benz Vans up to 2021 in the return corridor of eight to ten percent. At Daimler Trucks and Daimler Buses, the claim is to reach a sustainable rate of return of eight percent, and to highlight further potential.
Changes in the Executive Board
With the conclusion of the annual General meeting, Zetsche is set to more than 13 years as Chairman of the Board of Daimler AG and head of Mercedes-Benz Cars, resigned from his mandates. The Supervisory Board intends, with effect from the end of the two-year Cooling-off period of the annual General meeting in 2021, the choice of Zetsche to the Supervisory Board.
“Dieter Zetsche is an exceptional Manager. He has shaped the Daimler AG as a long-standing Board member and Chairman of the Board significantly, whether through the necessary separation from Chrysler, the response to the financial crisis in 2008/09 and the realignment of the product range, including the design. Dieter Zetsche, the company as a whole, want to be the target of a ’W ir back to the number One premium manufacturer is not only motivated, but this prematurely, already in 2016 compared to the target of 2020 can be achieved,“ said Bischoff. A German business magazine have called him the ’single economic leaders from the automotive industry world-class’. “He has led Daimler successfully through difficult Terrain back to the top and together with the employees of the profound transformation of the company continued. Under his leadership, Daimler has developed the basis for a good future. Him our unqualified thanks,“ said Bischoff.
Zetsche began in 1976 at Daimler in the youth group and has gone through a variety of stations in a managerial function successfully. The Ph. D. degree in electrical engineering what, among other things, in a senior position in the business field of commercial vehicles in Brazil, Argentina and the USA, before he was appointed in 1995 as a sales Manager in the Board of management of Mercedes-Benz AG and then as a Board member of the business unit commercial vehicles. In 2000, he took over as CEO and President of the responsibility for Chrysler until he in 2005 to the top of the Mercedes-Benz Car Group advanced and beginning of 2006, the Chairman of the Board took over.
After the end of the annual General meeting Ola Källenius for the duration of five years, is appointed Chairman of the Board of management of Daimler AG and head of Mercedes-Benz Cars. “With Ola Källenius we have appointed a recognised, internationally experienced and successful managers from their own home, can also inspire people, for one thing, as Chairman of the Board and head of Mercedes-Benz Cars. At the same time, we rely on the proven double responsibility of the Chairman of the Board, who is also the management of the largest division of Daimler,“ said Bischoff.
Källenius joined in 1995 in the group and was appointed after the Acquisition of several national and international Management functions, with effect from January 2015 as a member of the Board of management of Daimler AG with the Mercedes-Benz Cars sales. In January of 2017, he took over responsibility for group research and Mercedes-Benz Cars development.
Successor of Källenius, the Daimler Board of management Markus Schäfer is. He takes over responsibility for group research and Mercedes-Benz Cars development, and is appointed for five years. In addition, Schaefer at Mercedes-Benz Cars for purchasing and supplier quality will be responsible. “Markus Schäfer showed in various technical management positions in the business field Mercedes-Benz Cars, excellent leadership qualities and strategic vision,” said Bischoff.
Because of the many years of financial has declared the Board of management Bodo Uebber last October, not an extension of his until December 2019 current order to aim for, lay down it, with the consent of the Supervisory Board, his management Board mandates at the end of the annual General meeting. “Bodo Uebber joined the group in 1989, the Daimler group and has led since the end of 2004, the financial division of Daimler AG. He was the reliable, economic Conscience of the company and has implemented many initiatives in his Department, as well as group-wide. We would like to thank Bodo Uebber, for his successful and hard work and wish him well for the future,“ said Bischoff.
The succession of Uebber Harald Wilhelm, takes over the for the 1. In April 2019, was appointed to the Board of management of Daimler AG, initially without portfolio. After the annual General meeting Wilhelm is head of Finance & Controlling and Daimler Financial Services. The appointment for the next three years. He was previously Chief Financial Officer of Airbus and member of the Executive Committee of Airbus. “With his extensive and international Expertise, he will support Daimler in the Transformation to a mobility provider excellent and strategic direction to drive forward. So, the increased importance of capital markets and investors, we carry with the appointment of Harald Wilhelm invoice. At the same time, we are continuing the already started generation change in the management,“ said Bischoff.
Already in February 2019 the Supervisory Board appointed Britta Seeger, with effect from 1. January 2020 for a period of another five years, again as a member of the Executive Board, responsible for the portfolio of Mercedes-Benz Cars sales.
“If Daimler is today in many ways, more than ever before, thanks to the giant achievements of generations of dedicated employees. You have the business in more than 130 years – and expanded – in the good times and less good times. I consider it a privilege to be able to this way for more than four decades shaping. The founding fathers of Daimler moved with the invention of the automobile, far more than people and goods. If we want to change the world once again – and for the Better – then you must also change Daimler. And I am very optimistic about this change,“ said Zetsche.
Daimler annual General meeting in 2019 in Berlin;EQC 400 4MATIC: electricity consumption combined: 20,8 – a 19.7 kWh/100 km; CO2 emission, combined: 0 g/km* ; *power consumption and range were determined on the basis of regulation 692/2008/EC. Power consumption and range depend on the vehicle configuration
Daimler Annual Meeting 2019 in Berlin;EQC 400 4MATIC: Combined electric energy consumption: 20.8 – 19.7 kWh/100 km; combined CO2 emission: 0 g/km* ; *Electric energy consumption and range have been determined on the basis of Regulation (EC) No. 692/2008. Electric energy consumption and range depend on the vehicle configuration
