Shareholders Vote to Spin-off of Daimler Truck, Rename Daimler AG to Mercedes-Benz Group

Ken Zino of AutoInformed.com on Shareholders Vote to Spin-off of Daimler Truck, Rename Daimler AG to Mercedes-Benz Group

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Today at the virtual Extraordinary General Meeting of Daimler AG (ticker DAI), the shareholders approved by an overwhelming majority on the realignment of the company.

The spin-off of the truck and bus business and the subsequent listing of Daimler Truck Holding AG as an independent company on the Frankfurt Stock Exchange were approved by 99.90% of the capital stock represented for the resolution. About 3000 viewers followed the virtual Extraordinary General Meeting on the Internet. A bare majority of 56.45% of the share capital was represented.

Shareholders approved at 99.89% of the votes cast renaming of Daimler AG as Mercedes-Benz Group AG effective 1 February 2022. The new name reflects the future focus on cars and vans of the brands Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ. The two measures must now be entered in the Commercial Register.

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Two current members of the Daimler Supervisory Board, Marie Wieck and Joe Kaeser, will step down from their positions and join the Supervisory Board of Daimler Truck Holding. As their successors in the Supervisory Board of Daimler AG, the shareholders elected Helene Svahn with a majority of 99.34% and Olaf Koch with a majority of 98.60% of what will become Mercedes-Benz Group. Around 3,000 viewers followed the virtual Extraordinary General Meeting on the Internet. A total of 56.45% of the share capital was represented.

About Ken Zino

Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
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3 Responses to Shareholders Vote to Spin-off of Daimler Truck, Rename Daimler AG to Mercedes-Benz Group

  1. Pingback: Mercedes-Benz to invest €60B to be Electric Only | AutoInformed

  2. Pingback: Daimler Truck Receives Investment Grade Ratings | AutoInformed

  3. AutoCrat says:

    With an expected listing on the Frankfurt Stock Exchange by the end of this year, Daimler Truck had approached S&P Global Ratings (S&P) and Moody’s Investor Service (Moody’s) for setting up first time credit ratings. Both rating agencies now issued investment grade ratings for Daimler Truck. S&P Global Ratings assigned a long-term issuer credit rating of BBB + (outlook stable) while Moody’s assigned a long-term issuer credit rating of A3 (outlook stable).
    Jochen Goetz, Chief Financial Officer of Daimler Truck AG: “These ratings are a confirmation, that Daimler Truck is ready for independence – guided by a clear strategy and with a strong financial profile. This will support our growth in the financial services segment and our ambition to achieve higher margins.”

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