Daimler Shareholders Approve Board of Management Remuneration

BERLIN, April 14 /PRNewswire-FirstCall/ -- At the Annual General Meeting of Daimler AG (stock-exchange symbol DAI) held in Berlin on Wednesday, the company's shareholders approved the system of remuneration for the members of the Board of Management. The German Act on the Appropriateness of Management Board Remuneration, which came into effect on August 5, 2009, allows for the Annual Meeting to vote on the system of remuneration for the members of the Board of Management. Due to this new legislation, the Supervisory Board of Daimler AG placed the system of remuneration for the members of the Board of Management on the agenda of the Annual Meeting for the shareholders' approval. The shareholders voted in favor of the remuneration of the Board of Management for the year 2010 with 95.97% of the votes cast.

(Logo:  http://www.newscom.com/cgi-bin/prnh/20080409/NYW017LOGO )

Furthermore, the Annual Meeting elected Dr. Paul Achleitner to the Supervisory Board as successor to Arnaud Lagardere, who is leaving this Board. Achleitner, a member of the Board of Management of Allianz SE, is a member of the Daimler Supervisory Board until the end of the 2015 Annual Meeting.

The actions of the members of the Board of Management in 2009 were ratified with 98.32% of the votes cast; the actions of the members of the Supervisory Board were ratified with 98.05%.

The Annual Meeting also authorized the Board of Management to issue convertible bonds and/or bonds with warrants with a total face value of up to euro 10 billion and to create a new Conditional Capital 2010 of euro 500 million arising from those convertible bonds and/or bonds with warrants. The previous authorization to issue convertible bonds and/or bonds with warrants had expired on April 5, 2010.

This year's Annual Meeting at the Berliner Messe exhibition center was attended by approximately 4,700 shareholders (2009: 7,000). 40.28% of the shareholders' voting rights were represented at the Annual Meeting.

Further information on Daimler is available on the internet at: http://media.daimler.com

This document contains forward-looking statements that reflect our current views about future events. The words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "plan," "project," "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including a lack of further improvement or a renewed deterioration of global economic conditions, in particular a renewed decline of consumer demand and investment activity in Western Europe or the United States, or a downturn in major Asian economies; a continuation or worsening of the tense situation in the credit and financial markets, which could result in a renewed increase in borrowing costs or limit our funding flexibility; changes in currency exchange rates or interest rates; the ability to continue to offer fuel-efficient and environmentally friendly products; a permanent shift in consumer preference towards smaller, lower margin vehicles; the introduction of competing, fuel-efficient products and the possible lack of acceptance of our products or services, which may limit our ability to adequately utilize our production capacities or raise prices; price increases in fuel, raw materials and precious metals; disruption of production due to shortages of materials, labor strikes, or supplier insolvencies; a further decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization programs at all of our segments, including the repositioning of our truck activities in the NAFTA region and in Asia; the business outlook of companies in which we hold an equity interest, most notably EADS; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety, the resolution of pending governmental investigations and the outcome of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading "Risk Report" in Daimler's most recent Annual Report and under the headings "Risk Factors" and "Legal Proceedings" in Daimler's most recent Annual Report on Form 20-F filed with the Securities and Exchange Commission. If any of these risks and uncertainties materialize, or if the assumptions underlying any of our forward-looking statements prove incorrect, then our 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. Any forward-looking statement speaks only as of the date on which it is made.

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 its customers with a full range of automotive financial services including financing, leasing, insurance and fleet management.

The company's founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. As an automotive pioneer, Daimler continues to shape the future of mobility. The Group applies innovative and green technologies to produce safe and superior vehicles which fascinate and delight its customers. With the development of alternative drive systems, Daimler is the only vehicle producer investing in hybrid drive, electric motors and fuel-cell systems, with the goal of achieving emission-free mobility in the long term. 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 automotive brand, Mercedes-Benz, the brands smart, Maybach, Freightliner, Western Star, Fuso, Setra, Orion and Thomas Built Buses. The company is listed on the stock exchanges of Frankfurt, New York and Stuttgart (stock exchange symbol DAI). In 2009, the Group sold 1.6 million vehicles and employed a workforce of more than 256,000 people; revenue totaled euro 78.9 billion and EBIT amounted minus euro 1.5 billion.

SOURCE Daimler Corporate Communications

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED