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Daimler shareholders vote to spin off truck and bus segment

Daimler shareholders vote to spin off truck and bus segment
In a near-unanimous vote, Daimler shareholders decided on Oct. 1 to spin off the truck and bus segment and rebrand the passenger-vehicle segment as Mercedes-Benz Group AG. (Courtesy: Daimler)

STUTTGART, Germany — During a virtual general meeting of Daimler AG on Oct. 1, an overwhelming majority of shareholders voted for a “historic” realignment of the company, according to a statement released by Daimler.

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 99.9% of the capital stock represented for the resolution.

In addition, 99.89% of shareholders voted to rename Daimler AG as Mercedes-Benz Group AG, effective Feb. 1, 2022. The new Mercedes-Benz Group will focus on passenger vehicles with 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, the statement noted.

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%.

A total of 56.45% of the share capital was represented during the virtual meeting.

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