Daimler shareholders’ meeting approve truck and bus business spin-off

Daimler truck and bus business spin-off has been approved at Daimler shareholders’ Extraordinary General Meeting held today, October 1. The spin-off of the truck and bus business (announced early this year) and the subsequent listing of Daimler Truck Holding AG as an independent company on the Frankfurt Stock Exchange were approved by 99.9% of the capital stock represented for the resolution. The first stock-exchange listing of Daimler Truck Holding AG is planned by end of 2021.

Daimler truck and bus business towards the spin-off

Furthermore, the shareholders approved also with an overwhelming majority of 99.89% of the votes cast the renaming of Daimler AG as Mercedes-Benz Group AG effective as of 1 February 2022. The new name emphasises 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. Both companies can then create decisive value added for all stakeholders.

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 AG. 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%. Around 3,000 viewers followed the virtual Extraordinary General Meeting on the Internet. A total of 56.45% of the share capital was represented.

During a dedicated event held on September 21, Mercedes-Benz Trucks top management outlined the strategy in view of decarbonization. The so-called dual strategy is based on electric trucks for regional and distribution, while several tests on fuel cell trucks for long-haul transportation are being currently carried out.