With a new structure and more autonomy in the individual divisions, the carmaker Daimler wants to be more flexible and ready for to arm the change in the industry . In addition, a new man will take over the management of the group at the Annual General Meeting in Berlin: Ola Källenius, formerly head of development, will replace Dieter Zetsche, the long-running chairman of Daimler. Zetsches term ends with the end of the meeting.
New Course: Daimler Project Future
But first, the shareholders have the floor, before the “Project Future” can finally take its course. They still have to approve the division of the Group into three legally independent units already decided by the Executive Board and the Supervisory Board under the umbrella of Daimler AG.
In the future, Daimler intends to consolidate its business with cars and vans at Mercedes-Benz AG; Daimler Truck AG will be responsible for trucks and buses. The Mobility and Financial Services Division has been independent so far, but it will be renamed Daimler Mobility AG.
Since the fall of 2017, the Group has been working intensively on the restructuring, which should give the individual divisions more freedom, for example, in cooperation with other companies with regard to the Daimler future.
Källenius announces Daimler Project Future
Källenius will, like his predecessor Zetsche, at the same time lead the entire group and the car division. He is also to become head of the Supervisory Board of Truck AG. Some investors would like to see them on the stock market today rather than tomorrow – but that is not planned, assures Daimler.
In addition to the group restructuring Källenius takes over a whole series of other construction sites from its predecessor. Waning sales, diesel recalls, the trade dispute between China and the United States and problems with the conversion to the new exhaust gas test standard WLTP had recently weighed heavily on Daimler. For 2018, Zetsche had to announce a significant decline in February, and 2019 is not going well. Add to this the still ongoing proceedings in the diesel scandal and the cartel investigations of the EU – each unclear for the Daimler future.
Zetsche has been at the head of Daimler for more than 13 years. He had announced his departure last autumn. After a two-year so-called cooling-off phase, he is to join the Supervisory Board in 2021 and then assume the chairmanship there.