Daimler Plans Truck & Bus Business Spinoff

Daimler plans a fundamental change in its structure, designed to unlock the full potential of its businesses in a zero-emissions,
Daimler Plans Truck & Bus Business Spinoff
DaimlerDaimler

Daimler plans a fundamental change in its structure, designed to unlock the full potential of its businesses in a zero-emissions, software-driven future. The Supervisory Board and the Board of Management of Daimler has agreed to evaluate a spin-off of its Truck and Bus business and begin preparations for a separate listing of Daimler Truck. It is intended that a significant majority stake in Daimler Truck will be distributed to Daimler shareholders. The Daimler Truck business will have fully independent management, stand-alone corporate governance including an independent Chairman of the Supervisory Board, and is targeted to qualify as a DAX company. The transaction and the listing of Daimler Truck on the Frankfurt stock exchange is expected to be complete before year-end 2021. In addition, it is also Daimler’s intention to rename itself as Mercedes-Benz at the appropriate time.

As part of a more focused corporate structure, both Mercedes-Benz and Daimler Truck will also be supported by dedicated captive financial and mobility service entities, driving sales with tailor-made financing, leasing and mobility solutions, increasing retention and building customer loyalty. In this process, the company plans to assign resources and teams from today’s Daimler Mobility to both Mercedes-Benz and Daimler Truck.

Daimler Truck intends to generate value for its shareholders by accelerating the execution of its strategic plans, raising its profitability and driving forward with its development of emissions-free technologies for trucks and buses.

Daimler Truck is the world’s largest Truck and Bus producer, with industry leading positions in Europe, North America and Asia, and with more than 35 main locations around the globe. With more than 100,000 employees, it unites seven brands under one roof: BharatBenz, Freightliner, Fuso, Mercedes-Benz, Setra, Thomas Built Buses and Western Star.

No stories found.
SteelGuru Business News
www.steelguru.com