Supervisory Board of Daimler AG extends contracts of Dr. Dieter Zetsche and Prof. Dr. Thomas Weber; Exchange of Board of Management responsibilities between Dr. Wolfgang Bernhard and Andreas Renschler

Feb 21, 2013, 09:28 ET from Daimler Corporate Communications

STUTTGART, Germany, Feb. 21, 2013 /PRNewswire/ --

  • Three-year extensions for Dr. Zetsche and Prof. Weber until December 31, 2016
  • As of April 1, 2013: Andreas Renschler to be responsible for Production and Purchasing Mercedes-Benz Passenger Cars and Vans, Dr. Wolfgang Bernhard to be responsible for Daimler Trucks
  • Dr. Manfred Bischoff, Chairman of the Supervisory Board of Daimler AG: "With today's extensions of the contracts of Dieter Zetsche and Thomas Weber, we are maintaining the important continuity at the top executive level."

In its meeting today, the Supervisory Board of Daimler AG passed a unanimous resolution to extend the contract of service of Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, until December 31, 2016. The contract of service of Prof. Dr. Thomas Weber, Board of Management Member for Group Research and Mercedes-Benz Cars Development, was also extended until December 31, 2016.

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As of April 1, 2013, Andreas Renschler will assume Board of Management responsibility for production and purchasing of Mercedes-Benz Passenger Cars & Mercedes-Benz Vans. At the same time, Dr. Wolfgang Bernhard will assume Board of Management responsibility for Daimler Trucks.

Dr. Dieter Zetsche has been a member of the Board of Management of Daimler AG since December 16, 1998 and its Chairman since January 1, 2006. He is also Head of the Mercedes-Benz Cars division.

Prof. Dr. Thomas Weber has been a member of the Board of Management of Daimler AG since January 1, 2004 and is responsible for Group Research and Mercedes-Benz Cars Development.

Andreas Renschler has been a member of the Board of Management of Daimler AG and Head of Daimler Trucks since October 1, 2004. Dr. Wolfgang Bernhard has been a member of the Board of Management of Daimler AG and Head of Operations Mercedes-Benz Cars since February 18, 2010.

Dr. Manfred Bischoff: "The long-term orientation of the Group's leadership is an essential factor for Daimler's sustained success. With today's extensions of the contracts of Dieter Zetsche and Thomas Weber, we are maintaining the important continuity at the top executive level."

"Dieter Zetsche and the Board of Management have a clear plan how to further enhance Daimler's overall performance together with their team. Dieter Zetsche is distinguished of course by his great experience, but also by his ability to combine a feeling for cars with sound engineering knowledge and an entrepreneurial approach," continued Dr. Bischoff.

"Research and development are two key areas in the automobile industry. I am therefore delighted that we will continue the successful collaboration with Thomas Weber. He will steadily continue to maintain Daimler's claim to technological leadership," stated Dr. Bischoff.

"Wolfgang Bernhard and Andreas Renschler are two highly experienced members of Daimler's Board of Management. With this change, they will both be able to utilize their management know-how from their previous responsibilities within in their new functions, thus expanding their own expertise in all automobile areas" explained Dr. Bischoff.

The contracts of service of Dr. Zetsche and Prof. Dr. Weber would otherwise have expired in December 2013. In accordance with Section 84 Subsection 1 of the German Stock Corporation Act (AktG) and with the Rules of Procedure of the Supervisory Board of Daimler AG, the Supervisory Board passes a resolution on reappointments to the Board of Management at the beginning of the last year of a member's current period of office.

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About Daimler
Daimler AG is one of the world's most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world's biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides financing, leasing, fleet management, insurance and innovative mobility services. The company's founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. As a pioneer of automotive engineering, Daimler continues to shape the future of mobility today: The Group's focus is on innovative and green technologies as well as on safe and superior automobiles that appeal to and fascinate its customers. For many years now, Daimler has been investing continually in the development of alternative drive systems with the goal of making emission-free driving possible in the long term. So in addition to vehicles with hybrid drive, Daimler now has the broadest range of locally emission-free electric vehicles powered by batteries and fuel cells. This is just one example of how Daimler willingly accepts the challenge of meeting its responsibility towards society and the environment. Daimler sells its vehicles and services in nearly all the countries of the world and has production facilities on five continents. Its current brand portfolio includes, in addition to the world's most valuable premium automotive brand, Mercedes-Benz, the brands smart, Freightliner, Western Star, BharatBenz, Fuso, Setra and Thomas Built Buses. The company is listed on the stock exchanges of Frankfurt and Stuttgart (stock exchange symbol DAI). In 2012, the Group sold 2.2 million vehicles and employed a workforce of 275,000 people; revenue totaled €114.3 billion and EBIT amounted to €8.6 billion.

SOURCE Daimler Corporate Communications