Supervisory Board of Daimler AG extends contracts of Dr. Dieter Zetsche and Prof. Dr. Thomas Weber

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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.

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.

Credits: Daimler AG

Copyright © 2013, mercedesgla. All rights reserved.

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REPORT: Daimler AG to renew contract of Dr. Dieter Zetsche

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A report cited by the German online economy publication WirtschaftsWoche ( www.wiwo.de ) reveals that Daimler AG is about to extend the contract of Dr. Dieter Zetsche as chairman of the company at the next meeting of the management board, taking place on the 21st February - some two months before the usual Annual General Meeting held in April.

The current contract of Dr. Z, renewed at the end of 2009, runs out on the 31st December this year. The anticipated extension is hardly a surprise, as the 59-year old managed to put order into things and restore the balance after the DaimlerChrysler flop. His credibility is undoubtful and he benefits from a lot of support and high approval of the team he is leading at Daimler.

The new mandate of Dr. Dieter Zetsche as chief of Daimler AG and head of Mercedes-Benz Cars will last five years up to the end of 2018, although there are suggestions some fund managers request a different executive for the automobile division. At the same meeting, the contracts of Dr. Thomas Weber, R&D boss, and Christine Hohmann-Dennhardt, executive compliance officer, will also be renewed.

During the same meeting, the level of this year's shareholder dividents is also expected to be agreed upon. Despite the facts Daimler AG revised its performance targets in decrease towards the end of 2012 and the prospects were less optimistic, it is widely believed among board members that, in the end, the value of 2.20 euros per dividend will be approved in majority or unanimously.

Copyright © 2013, mercedesgla. All rights reserved.

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Daimler Financial Services heads for record year - contract volume will double by 2020

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Daimler Financial Services once again expects to achieve
record business results in 2012. In the first ten months of the year,
Daimler’s financial services subsidiary posted all-time highs for new
business and contract volume, and its operating profit (EBIT) rose
above €1 billion for the first time in the first three quarters. EBIT
therefore surpassed even last year’s all-time high, and the company
expects it to rise to around €1.3 billion for the year as a whole. “We
are on course to set a new record, and we want to achieve strong
growth even when the overall economy is weak,” said Board of
Management Chairman Klaus Entenmann in Stuttgart on Monday.
On average, Daimler Financial Services finances or leases four out of
ten Daimler vehicles worldwide. During the first ten months of the
year, the company’s new business (i.e. the value of all of the leasing
and financing contracts concluded in 2012 to date) rose to the
record value of €30.9 billion (+15 percent). Contract volume, which
is the value of all of the leasing and financing contracts managed by
the company, also set a new record, amounting to €77.5 billion (+18
percent) during the same period. In addition, Daimler Financial
Services brokered more insurance policies than ever before. In fact,
the number of new contracts increased by 14 percent to more than
860,000. Thanks to close collaboration with major insurance
partners, Mercedes customers can benefit from customized
insurance solutions which ensure that damaged automobiles are
repaired in authorized workshops by experts using genuine spare
parts.

As part of its DFS 2020 strategy, Daimler Financial Services plans to
continue to grow profitably in the coming years. „Until the end of the
decade, we want to nearly double our worldwide contract volume
compared to 2011“, said Entenmann. Important growth drivers
include the expansion of the company’s business in Asia, the
Daimler Group’s product offensives and the increase in the range of
innovative mobility services. The company expects to post especially
strong growth in the Asia-Pacific region, where its new business rose
by 23 percent to €4.4 billion in the first ten months of 2012,
compared to the same period last year. In August, the company
became the first premium automobile manufacturer to offer leasing
products in China. In addition, the company successfully launched
its financing business in India for Daimler’s new locally produced
truck brand, BharatBenz. In November 2012, the company also
kicked off its financing business in Malaysia, which is an important
southeast Asian market with more than 28 million inhabitants.

Daimler Financial Services is also set to grow in Europe and the
Americas. In both regions, the company concluded substantially
more new leasing and financing contracts through October than in
past years. New business amounted to €14.9 billion (+ 13 percent)
in Europe and to €11.6 billion (+17 percent) in the Americas. “We
want to grow in our traditional core markets in the wake of Daimler’s
current product offensives,” said Entenmann. With its new compact
models, Daimler particularly wants to reach young customers, who are
especially open to financing and leasing offers. For the new
Mercedes-Benz A-Class, for example, the company is offering target
group-appropriate all-in-one packages that include financing,
insurance and service.

Daimler Financial Services sees additional growth opportunities in
the area of innovative mobility services. Its subsidiary car2go GmbH
is now represented in 15 cities in Europe and North America. In
addition, it has a total of over 220,000 customers, which is almost
four times more than at the beginning of 2012. “We want to enable
even more people to use car2go, which is why we plan to be
represented in more than 50 cities by the middle of the decade,”
said Entenmann. A car2go vehicle is rented about every four-and-a-half
seconds on average in the cities in which the service is
provided. Over the long term, Daimler Financial Services also plans
to offer additional innovative mobility services. “We want to expand
from a automotive financial services company to a provider of
mobility services,” said Entenmann. “Ultimately, our imagination is
not limited to car2go.”
Credits: Daimler AG

Copyright © 2012, mercedesgla. All rights reserved.

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Lewis Hamilton to race for MERCEDES AMG PETRONAS from 2013

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Following the signature of the commercial agreement with FOM this week by Mercedes-Benz, the MERCEDES AMG PETRONAS Formula One Team is pleased to announce that Lewis Hamilton has signed a three-year agreement to race for the team from the 2013 Formula One season.

Lewis’ career has been supported by Mercedes-Benz and McLaren since its earliest days. In 2000, he and Nico Rosberg were team-mates at TeamMBM.com in Formula A karting. Lewis drove with Mercedes-Benz engines during his two seasons in the Formula 3 Euroseries, winning the 2005 championship, and every one of his 104 Formula One starts so far have been powered by the three-pointed star. Lewis is one of four drivers, along with Juan Manuel Fangio, Mika Häkkinen and Jenson Button, to have won the Formula One world championship with Mercedes-Benz power. With 20 Formula One victories, he is equal with Mika Häkkinen as the most successful Mercedes-Benz Formula One driver.

The recruitment of the 2008 world champion marks the start of a new chapter for the MERCEDES AMG PETRONAS Formula One Team. Lewis will replace Michael Schumacher, who has contributed significantly to the development of the Silver Arrows works team over the past three years. During this time, the team achieved the milestone of the first victory of the modern era for a works Silver Arrow, when Nico Rosberg won this year’s Chinese Grand Prix, and has scored five further podium finishes to date.

In parallel, Mercedes-Benz has put in place the right technical structure and given the team in Brackley and Brixworth the tools it needs to achieve long-term, durable success in Formula One. In the near future, three-time world champion Niki Lauda will also bring his extensive experience to the role of non-executive chairman of the team’s board of directors, further reinforcing the strength in depth at MERCEDES AMG PETRONAS.

The signing of Lewis Hamilton completes the MERCEDES AMG PETRONAS driver line-up for the 2013 season alongside Nico Rosberg. Nico won his first Grand Prix this year in China and will enter his fourth season with our team.

Michael Schumacher
“I have had three nice years with the team which unfortunately did not go as well as we all would have wanted on the sporting side. I wish Lewis well and for the team to achieve the success we worked so hard for in the build-up. I would like to thank the team for their trust and all the guys for their unconditional commitment. I will now concentrate on the next races.”

Lewis Hamilton
“It is now time for me to take on a fresh challenge and I am very excited to begin a new chapter racing for the MERCEDES AMG PETRONAS Formula One Team. Mercedes-Benz has such an incredible heritage in motorsport, along with a passion for winning which I share.

“Together, we can grow and rise to this new challenge. I believe that I can help steer the Silver Arrows to the top and achieve our joint ambitions of winning the world championships.”

Ross Brawn, Team Principal - MERCEDES AMG PETRONAS “On behalf of MERCEDES AMG PETRONAS, I would first of all like to thank Michael Schumacher for the important contribution he has made to the growth of our team over the past three seasons. His energy and commitment have never wavered, even when results have not matched our own expectations, and we are determined to finish the 2012 season together on a high. As always, it has been a pleasure to work with Michael.

“Looking ahead to 2013, I am delighted to welcome Lewis Hamilton to our team. The arrival of a driver of Lewis’ calibre is a testament to the standing of Mercedes-Benz in Formula One and I am proud that Lewis shares our vision and ambition for the success of the Silver Arrows. I believe that the combination of Lewis and Nico will be the most dynamic and exciting pairing on the grid next year, and I am looking forward to what we can achieve together.

“Over the past three years, we have been putting in place the foundations and building blocks that are needed to compete regularly for the world championship. Behind the scenes, we have assembled a team that is technically stronger, more experienced and better resourced, thanks to the support of PETRONAS and all of our loyal team partners. The potential is now there to match any other team on the grid, which is the minimum standard for a Mercedes-Benz works team. Our task is now to translate that potential into on-track performance for next season and beyond.”

Norbert Haug, Vice President - Mercedes-Benz Motorsport
“Mercedes-Benz has supported Lewis throughout his career, from karting, to Formula 3, to our successful partnership with McLaren, and it will be a very nice moment for all of us in the team to see him at the wheel of a works Silver Arrow next season, following in the tradition of British Mercedes-Benz Grand Prix drivers Sir Stirling Moss and Richard Seaman.

“Of course, it takes a great driver to replace such a legendary and successful one as Michael Schumacher. Over the past three years, Michael has been a great driver and an exemplary ambassador for MERCEDES AMG PETRONAS. His experience has been an important factor in guiding the development of our team in Brackley and we extend our sincere thanks to Michael for his loyalty, team play and commitment. We will be working very hard together in order to achieve the best possible results in the remainder of the 2012 season.

“The central task of any racing team is to deliver a car that allows the drivers to fully express their talents. In the 52 races for our works team, we have achieved a number of important milestones, including an historic victory for Nico Rosberg in China this year. We know that it is now time to take the next step, in order to deliver consistent front-running performances in the tradition of the Silver Arrows. Every single person in our team is working with total commitment and focus on achieving this ambition.”

Notes:
Lewis Hamilton is managed by Simon Fuller’s XIX Entertainment.

~ Official photo and details courtesy of MERCEDES AMG PETRONAS ~

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Supervisory Board of Daimler AG extends contract with Dr. Wolfgang Bernhard

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In its meeting today, the Supervisory Board of Daimler AG extended the contract of Dr. Wolfgang Bernhard, a member of the Board of Management of Daimler, until February 28, 2018.

Dr. Wolfgang Bernhard has been a member of the Board of Management of Daimler AG since February 18, 2010. In that function, he is responsible for Manufacturing and Procurement Mercedes-Benz Cars and for the entire Mercedes-Benz Vans division.

“We look forward to continuing the excellent cooperation with Wolfgang Bernhard in the Board of Management of Daimler AG and as a member of the Mercedes-Benz Cars team. This management continuity is important for the ongoing consistent implementation of the division’s strategy and for the achievement of our corporate goals,” stated Dr. Manfred Bischoff, Chairman of Daimler’s Supervisory Board.

Wolfgang Bernhard’s contract of service would have expired in February 2013. Pursuant to Section 84 Subsection 1 of the German Stock Corporation Act (AktG), the Supervisory Board decides on reappointment after the beginning of the last year of a Board of Management member’s current period of office.

Dr. Bernhard was born in Böhen (in Germany’s Allgäu region) on September 3, 1960. After completing high school in Bavaria, he studied at the Technical University of Darmstadt from 1980 until 1986, graduating as an industrial engineer with the special subject of electrical engineering. From 1987 until 1988, he studied at Columbia University in New York, where he gained an MBA (Master of Business Administration). After that, he studied at the Johann Wolfgang Goethe University in Frankfurt from 1988 until 1990, obtaining a doctorate on the subject of international exchange-rate risks. 

Previous positions at the company:
- Head of the Mercedes-Benz Vans division, 2009

- Member of the Board of Management, COO Chrysler Group, DaimlerChrysler AG, 2002 – 2004

- Deputy Member of the Board of Management, COO Chrysler Group, DaimlerChrysler AG, 2000

- Chairman of the Management, Mercedes-AMG GmbH, 1999

- Center Manager for S-Class Assembly at the Sindelfingen plant and responsible for the start of the new S-Class, 1994

- Project Manager for reducing material costs and increasing productivity at the assembly plants of Mercedes-Benz AG, 1992 – 1993

Credits: Daimler AG

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