Daimler’s restructure approved by shareholders
By Jim Gibbins - 1st June 2019
Germany – Daimler AG's proposed restructuring has been approved by a majority of its shareholders. Referred to as ‘Project Future’ aims to combine the Car and Van businesses as well as the Truck and Bus businesses into two legally independent entities. This will become effective when entered in the commercial register at Stuttgart District Court. The new corporate structure could then take effect from November 1, 2019.
From that date onwards, Mercedes-Benz AG is to be responsible for the Mercedes-Benz Cars and Mercedes-Benz Vans divisions, while the Daimler Trucks and Daimler Buses divisions are to be controlled by Daimler Truck AG. Daimler Financial Services AG, which is already legally independent, is to be renamed as Daimler Mobility AG, as from July 24, 2019. The two new companies, like the current Daimler AG and the future Daimler Mobility AG, would be co-determined German stock corporations with registered offices in Stuttgart.
