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Daimler Shareholders To Vote On New Group Structure; Confirms 2019 Forecasts

German automaker Daimler AG (DDAIF.PK) said that its shareholders will vote at the Annual Shareholders' Meeting on a new Group structure with the transformation of the automotive divisions into legally independent entities and Daimler AG as the parent company. At the end of the Annual Shareholder's Meeting, Dieter Zetsche, Chairman of the Board of Management, will hand over to his successor, Ola Källenius.

For the current year, Daimler continues to expect to be able to slightly increase its unit sales compared to 3.4 million vehicles sold last year. On the basis of the expected sales development, a further slight increase in revenue is anticipated. In a still volatile environment, the company expects Group EBIT to continue to rise slightly overall.

The Board of Management and the Supervisory Board will propose a dividend of 3.25 euros per share to the shareholders at the Annual Meeting compared to the previous year's 3.65 euros last year. The dividend will be distributed on the third business day after the resolution of the Annual Meeting, May 27, 2019, to all shareholders who held Daimler AG shares on May 22, 2019.


Daimler said that it has requested its shareholders to vote on the planned new corporate structure (PROJECT FUTURE) at the Annual Meeting. The shareholders' resolution would then clear the way for the Group to combine the car and van businesses as well as the truck and bus businesses into two legally independent entities by way of a spin-off. The project will take effective when the hive-down is entered in the commercial register at Stuttgart District Court.

The new corporate structure could then take effect on 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, will be called Daimler Mobility AG from July 24, 2019 on. The two new companies, like the current Daimler AG and the future Daimler Mobility AG, would be co-determined German stock corporations subject with registered offices in Stuttgart.

Daimler AG a publicly listed parent company, will perform the functions of governance, strategy and control, and is to provide group-wide services, the company said.

After more than 13 years as Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, Dieter Zetsche will step down from his position at the end of the Annual Shareholders' Meeting. With effect at the end of a two-year cooling off period, the Supervisory Board intends to propose to the 2021 Annual Meeting that Zetsche be elected to the Supervisory Board.

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