Market Overview

Daimler AG proposes Timotheus Höttges for election to the Supervisory Board

Share:

STUTTGART, Germany, Feb. 19, 2020 /PRNewswire/ -- Daimler AG proposes Timotheus Höttges for election to the company's Supervisory Board. On the basis of a recommendation by the Nomination Committee, the Supervisory Board of Daimler AG has decided to propose to the Annual General Meeting that Timotheus Höttges be elected to the Supervisory Board as a member representing the shareholders with effect from the end of the Annual General Meeting held on April 1, 2020 until the end of the Annual General Meeting that passes a resolution on the ratification of the actions of the Supervisory Board for the fourth financial year after the beginning of his term of office.

329426LOGO

"Timotheus Höttges is an experienced CEO and a proven expert for digitization in the telecommunications sector. Deutsche Telekom AG has made great progress under his leadership. With his qualifications, he is an excellent fit in the Supervisory Board of Daimler AG," stated Manfred Bischoff, Chairman of the Supervisory Board.

Paul Achleitner will step down from the Supervisory Board of Daimler AG after ten years on April 1, 2020. In a letter to Manfred Bischoff, he announced at an early stage that he did not intend to stand for a third term of office. "After careful consideration, I have decided not to stand for reelection. The understanding of appropriate time limits for board memberships has changed a lot recently. At this point in time, I therefore cannot and do not wish to commit for a further five years," stated Achleitner.

On behalf of the entire Supervisory Board, Manfred Bischoff expressly thanked Paul Achleitner for his dedicated work in the Supervisory Board and his contributions, which were focused on the well-being of the company. "This decision deserves our respect. Over the past ten years, Paul Achleitner has enriched our board with his experience and expertise," said Bischoff.

Further information on Daimler is available at:
www.media.daimler.com and www.daimler.com

The figures in this document are preliminary and have neither been approved yet by the Supervisory Board nor audited by the external auditor.

This document contains forward-looking statements that reflect our current views about future events. The words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "can," "could," "plan," "project," "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates and tariff regulations; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading "Risk and Opportunity Report" in the current Annual Report. If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.

Daimler at a glance
Daimler AG is one of the world's most successful automotive companies. With its Mercedes-Benz Cars & Vans, Daimler Trucks & Buses and Daimler Mobility divisions, the Group is one of the leading global suppliers of premium cars and one of the world's largest manufacturer of commercial vehicles. Daimler Mobility offers financing, leasing, fleet management, investments, credit card and insurance brokerage as well as innovative mobility services. The company founders, Gottlieb Daimler and Carl Benz, made history by inventing the automobile in 1886. As a pioneer of automotive engineering, Daimler sees shaping the future of mobility in a safe and sustainable way as both a motivation and obligation. The company's focus therefore remains on innovative and green technologies as well as on safe and superior vehicles that both captivate and inspire. Daimler continues to invest systematically in the development of efficient powertrains – from high-tech combustion engines and hybrid vehicles to all-electric powertrains with battery or fuel cell – with the goal of making locally emission-free driving possible in the long term. The company's efforts are also focused on the intelligent connectivity of its vehicles, autonomous driving and new mobility concepts. Daimler regards it as its aspiration and obligation to live up to its responsibility to society and the environment. Daimler sells its vehicles and services in nearly every country of the world and has production facilities in Europe, North and South America, Asia and Africa. In addition to Mercedes-Benz, the world's most valuable premium automotive brand (source: Interbrand study, 17 Oct. 2019), and Mercedes-AMG, Mercedes-Maybach and Mercedes me, its brand portfolio includes smart, EQ, Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses as well as the brands of Daimler Mobility: Mercedes-Benz Bank, Mercedes-Benz Financial Services and Daimler Truck Financial. The company is listed on the Frankfurt and Stuttgart stock exchanges (ticker symbol DAI). In 2019, the Group had a workforce of around 298,700 and sold 3.3 million vehicles. Group revenues amounted to €172.7 billion and Group EBIT to €4.3 billion.

Cision View original content:http://www.prnewswire.com/news-releases/daimler-ag-proposes-timotheus-hottges-for-election-to-the-supervisory-board-301007574.html

SOURCE Daimler North America - Corporate Communications

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com