Daimler elects new board chairmen November 1

Daimler elects new board chairmen November 1

September 25, 2019 0 By autotimesnews

The consequences of the resignation of long-time Mercedes-Benz leader Dieter Zetsche at the end of 2018 will soon be overcome as German automaker Daimler takes the final steps to restructure its corporate sector.

According to German corporate law, public companies must have one governing board and one supervisory board. The supervisory board is those who make important business decisions.

The person who was elected in place of Dieter Zetsche to the post of chairman of the board in September last year, Ola Kallenius, was approved for a new position. He will also take on the role of Chairman of the Supervisory Board of Daimler Truck. In addition, Manfred Bischoff was elected Chairman of the Supervisory Board of Mercedes-Benz, and Martin Daum was appointed Chairman of the Board of Daimler Truck.

The changes, which also include the appointment of new board members for the two organizations, should take effect when the corporate structure is entered in the commercial register, around November 1, 2019.

“Daimler is structured with greater flexibility to focus on the three influential legal entities Mercedes-Benz AG, Daimler Truck AG and Daimler Mobility AG and put them under one common umbrella. Due to the special attention to their customers, markets and core competencies, business units will receive more entrepreneurial freedoms in these new companies, ”the automaker said in a statement.

Dieter Zetsche was one of the “tractors” of the German automobile industry. He has led the company since 1998 as a member of the board of directors and the executive team as chairman since 2006. His contract expires in December this year. Ola Källenius, until recently, led the Research Group and the Mercedes-Benz Cars Development division. It is likely that in subsequent years additional changes will be made to the management structure, since in 2021 the contract with Manfred Bischoff should end.