Daimler Creates New Position of Chief Compliance Officer

- Gerd T. Becht appointed to fill this new role as CCO and General Council

Feb 18, 2008, 00:00 ET from Daimler AG

    STUTTGART, Germany, Feb. 18 /PRNewswire-FirstCall/ -- Daimler AG (stock
 abbreviation DAI) today announced that it has established the position of
 Chief Compliance Officer, representing another major step in strengthening
 its standards for business processes, internal controls and corporate
     This newly created position, which is at the Senior Vice President
 level directly under that of the Board of Management, will be assumed by
 Gerd T. Becht, effective March 1, 2008. Mr. Becht, 56, joined Daimler on
 June 1, 2006 from GM Europe. He has served since then as a Vice President
 heading the Company's Legal Department. The Chief Compliance Officer role
 is being added to his current responsibilities.
     Daimler has built and expanded its Compliance Organization over the
 years. Today, the Compliance Organization Mr. Becht will lead comprises 48
 employees at the corporate level in addition to 44 compliance officers in
 various local operations of the Company worldwide. The Compliance
 Organization is responsible for establishing and enforcing programs and
 internal controls that facilitate compliance with Daimler's Integrity Code,
 internal policies and procedures, as well as legal and regulatory
 requirements. And it is ensuring that all of its employees understand the
 ethical and legal principles they must adhere to in all of their business
     Over the past years, Daimler has strengthened its Compliance
 Organization and business conduct guidelines. This has included putting in
 place new specific policies and guidelines throughout the Company,
 significant world- wide training and communication, introduction and
 embedding of comprehensive compliance programs and internal controls,
 greater screening and monitoring for compliance, and the creation of a
 consultation desk. In addition, there is greater accountability for
 compliance across the organization, from compliance-specific targets in all
 relevant incentive compensation arrangements to a zero tolerance policy for
     The Chief Compliance Officer, an established position within US
 companies, will be responsible for informing the Board of Management, the
 Compliance Committee and the Audit Committee of the Supervisory Board on a
 regular basis of the current state of the Company's compliance activities.
 Organizationally, the division reports to the Chairman of the Board.
     Further information from Daimler is available on the internet at:
     About Daimler
     Daimler AG, Stuttgart, with its businesses Mercedes-Benz Cars, Daimler
 Trucks, Daimler Financial Services, Mercedes-Benz Vans and Daimler Buses,
 is a globally leading producer of premium passenger cars and the largest
 manufacturer of commercial vehicles in the world. The Daimler Financial
 Services division has a broad offering of financial services, including
 vehicle financing, leasing, insurance and fleet management. Daimler sells
 its products in nearly all the countries of the world and has production
 facilities on five continents. The company's founders, Gottlieb Daimler and
 Carl Benz, continued to make automotive history following their invention
 of the automobile in 1886. As an automotive pioneer, Daimler and its
 employees willingly accept an obligation to act responsibly towards society
 and the environment and to shape the future of safe and sustainable
 mobility with groundbreaking technologies and high-quality products. The
 current brand portfolio includes the world's most valuable automobile
 brand, Mercedes-Benz, as well as smart, Maybach, Freightliner, Sterling,
 Western Star, Mitsubishi Fuso, Setra, Orion and Thomas Built Buses. The
 company is listed on the stock exchanges in Frankfurt, New York and
 Stuttgart (stock exchange abbreviation DAI). In 2007, the Group sold 2.1
 million vehicles and employed a workforce of over 270,000 people; revenue
 totaled euro 99.4 billion and EBIT amounted to euro 8.7 billion. Daimler is
 an automotive Group with a commitment to excellence, and aims to achieve
 sustainable growth and industry-leading profitability.