Bodo Uebber does not intend to extend his Board of Management contract with Daimler AG

STUTTGART, Germany, Oct. 8, 2018 /PRNewswire/ -- Bodo Uebber has informed the Chairman of the Supervisory Board, Manfred Bischoff, that he does not intend to extend his contract of service, which runs until the end of 2019. After 16 years being a Board member by then, Bodo Uebber, would like to give the company and the new Chairman of the Board of Management of Daimler AG, Ola Källenius, the opportunity to build a new long-term focused team, to shape successfully the upcoming far-reaching structural changes further on.

In its meeting on September 26, 2018, the Supervisory Board decided to appoint Ola Källenius as Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, effective at the end of the Annual Shareholders' Meeting in May 2019. Dieter Zetsche will therefore step down from his position in the Board of Management of Daimler AG and as Head of Mercedes-Benz Cars at the end of the Annual Shareholders' Meeting on May 22, 2019.

Manfred Bischoff, Chairman of the Supervisory Board of Daimler AG: "We thank Bodo Uebber for his many years of successful work as the Member of the Board of Management responsible for Finance & Controlling and for the Daimler Financial Services division, and respect his personal choice."

"It was not easy for me. But now is the time for the company to put my tasks also in younger hands," said Bodo Uebber about his decision. "The path ahead, with its fundamental changes, requires long-term continuity in corporate management as well."

The Supervisory Board will decide on his successor in due course. Daimler has a large number of outstanding candidates with the required expertise.

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, 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 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, financial investments, credit cards, 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, it is a motivation and commitment of Daimler to shape safely and sustainably the future of mobility: The Group's focus is on innovative and green technologies as well as on safe and superior automobiles that appeal and fascinate. Daimler consequently invests in the development of efficient drive trains with the long-term goal of locally emission-free driving: from hightech combustion engines about hybrid vehicles to electric drive trains powered by battery or fuel cell. Furthermore, the company follows a consistent path towards intelligent connectivity of its vehicles, autonomous driving and new mobility concepts. 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 in Europe, North and South America, Asia, and Africa. Its current brand portfolio includes, in addition to the world's most valuable premium automotive brand, Mercedes-Benz (Source: Interbrand-Study, 10/4/2018), as well as Mercedes-AMG, Mercedes-Maybach and Mercedes me, the brands smart, EQ, Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses, and Daimler Financial Services' brands: Mercedes-Benz Bank, Mercedes-Benz Financial Services, Daimler Truck Financial, moovel, car2go and mytaxi.

The company is listed on the stock exchanges of Frankfurt and Stuttgart (stock exchange symbol DAI). In 2017, the Group sold around 3.3 million vehicles and employed a workforce of more than 289,300 people. With application of IFRS 15 and IFRS 9 in financial year 2017, Group revenue would have amounted to €164.2 billion and Group EBIT would have amounted to €14.3 billion. Before application of IFRS 15 and 9, Group revenue in 2017 amounted to €164.3 billion and Group EBIT amounted to €14.7 billion, as previously reported.

SOURCE Daimler North America - Corporate Communications

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