Daimler Truck AG makes significant management and organizational changes in preparation for an independent future

• Daimler #truck AG is making significant changes to its management structure ahead of the spin-off and separate listing planned for late 2021
• Daimler #truck AG reaffirms strategic goals: Improving profitability and leading role in the transformation of the commercial vehicle business
• The reorganization will see more entrepreneurial freedom and greater product development responsibility given to regional operating units and brands
• Daimler #truck AG creates new #truck Technology Group, central unit for powertrain, vehicle software, electrics/electronics and global purchasing
• Dr. Andreas Gorbach (45), currently CEO of the fuel cell joint venture cellcentric with Volvo Group will join the #Daimler #truck AG board to lead the TruckTechnology Group
• New board division for customised financial services for #Daimler #truck & Bus customers, headed by Stephan Unger (54), currently responsible for Finance & Controlling, Risk Management and Digital Mobility Solutions on the Board of Management of #Daimler Mobility AG.
• "The new business structure gives #Daimlertrucks & Buses the best of both worlds: Maximum customer proximity and entrepreneurship in our regions and maximum, focused engineering power for future technologies," said Martin Daum, CEO of #Daimler #truck AG.

Stuttgart – In preparation for its spin-off from #Daimler AG and its independent listing on the Frankfurt stock exchange planned for late 2021, #Daimler #truck AG is announcing the composition of its new Board of Management and a series of significant management and organizational changes, set to take place as of July 1^st 2021. These changes are designed to increase #Daimler #truck AG’s efficiency, decision making speed and ability to better serve customer needs across the globe.

Strengthened entrepreneurial responsibility for the business units in each region

To accelerate the pace of technological development and to better serve the needs of its customers in each region, #Daimler #truck AG has decided to realign its business structure. This means that the operating units and brands, which are globally active in the most important sales regions of North America (Freightliner, Western Star, Thomas Built Buses), Europe & Latin America (Mercedes-Benz Trucks) and Asia (FUSO & BharatBenz), will be given more entrepreneurial independence and room to manoeuvre in the future.

Going forward, decision-making authority and the necessary product development resources will be organized alongside the respective #Daimler #truck brands in the regions. This will include the Chief Engineer functions for the entire vehicle development, previously structurally anchored in the central development of #Daimlertrucks & Buses, being assigned to the corresponding regions. This is designed allow vehicle brands such as Freightliner in North America, Mercedes-Benz Trucks in Europe and Latin America, FUSO in Asia to deliver the best possible product and service offering for their customers.

New Board of Management division #truck Technology Group

In light of the megatrends CO2-neutral transport, software and connectivity, #Daimler #truck AG has been driving the transformation of the industry for years. The company has focused on developing the right solutions for these trends - be it the world premieres of battery-powered eTrucks in the light, medium and heavy segments, the recently presented hydrogen #truck for long-distance travel Mercedes-Benz GenH2 or the autonomous Future #truck 2025.

Given the increased speed towards CO2-neutral transportation and the accelerating development of software and connectivity, #Daimler #truck AG is bringing together all essential technology and powertrain activities into one division, the #truck Technology Group (TT). This will be headed by Dr. Andreas Gorbach (45), and a global competence centre for research, development and production for all future powertrain technologies (combustion engine, battery electric and fuel cell) will be created. In addition, TT will be responsible for vehicle software, electrics/ electronics and global purchasing. These changes not only make it possible to economically scale differentiating technologies through broad use in all regions, but also to leverage global synergies.

"The new business structure gives #Daimlertrucks & Buses the best of both worlds: Maximum customer proximity and entrepreneurship in our regions and maximum, focused engineering power for future technologies," said Martin Daum, CEO of #Daimler #truck AG.

Martin Daum continues: “Dr. Andreas Gorbach is a proven leader with broad experience in both conventional and zero-emission powertrains. He is the perfect match for the new #truck Technology Group Board of Management position. Andreas Gorbach is currently CEO of the fuel cell joint venture cellcentric with the Volvo Group and has largely contributed to #Daimler #truck AG's success in making hydrogen drive systems ready for series production.”

Sven Ennerst, previously responsible for Development, Purchasing and Region China, will pursue as General Representative China until the end of the year, fully focussed on the company's success in this important market for #Daimlertrucks. Dr. Frank Reintjes, previously responsible for the Global Powertrain division, will accompany the realignment of #Daimler #truck AG as a Senior Executive Advisor to the CEO until the end of the year. Both executives will start their well-deserved retirement at the end of the year.

Martin Daum underlines: "I would like to sincerely thank my both esteemed colleagues Sven Ennerst and Frank Reintjes for their extraordinary dedication and contribution to #Daimler #truck AG. Over decades, they both shaped significantly their respective areas of responsibility. Frank Reintjes in creating a highly performing global Powertrain entity. Sven Ennerst in creating a global product portfolio with industry leading technology in safety and efficiency. Both have had significant impact on our successes within their respective areas."

Financial services for #Daimler #truck & Bus customers

An additional step towards greater customer orientation is the establishment of a new, company-owned financial services unit for the #truck and bus business. The new subsidiary of #Daimler #truck AG will provide targeted support for the sales of the world's largest #truck and bus manufacturer with tailor-made financing, leasing and mobility solutions and will strengthen customer relationships. Colleagues of the future #Daimler #truck Financial Services organization will transfer from #Daimler Mobility AG to the new company ahead of the planned spin-off and listing and become part of the worldwide #Daimler #truck family. The management of this new in-house financial services unit will be taken over by Stephan Unger from July 1^st, 2021. In this capacity, Stephan Unger will become a member of the Board of Management of #Daimler #truck AG as per that date.

Stephan Unger (54) has been on the Board of Management of #Daimler Mobility AG since 2012, previously responsible for Finance & Controlling, Risk Management and Digital Mobility Solutions. His career has taken him through various management positions in Finance & Controlling, including at Mitsubishi Motors Corporation in Japan, which was then part of DaimlerChrysler AG, and Mercedes-AMG GmbH. In 2020, Stephan Unger additionally took over responsibility for controlling the investments in the area of digital mobility services.

Martin Daum, CEO of #Daimler #truck AG: "I am very pleased that we have been able to win Stephan Unger as a board member for the new #Daimler #truck Financial Services unit. He encompasses broad international management experience in both the financial services industry and the #truck business. With an in-house financial services unit, we will have a strong partner at our side in the future who will offer our customers attractive leasing, financing and insurance products and thus optimally complement our market presence. We warmly welcome Stephan Unger and his future team to #Daimlertrucks & Buses."

The Board of Management of the #Daimler #truck AG

Daimler #truck CEO Martin Daum leads the company with a Board of Management team that has all the prerequisites to align for a future independent #Daimler #truck AG. Karin Rådström is responsible for the Europe and Latin America regions and the Mercedes-Benz #truck brand. John O'Leary, as CEO of #Daimlertrucks North America, is responsible for the North America region and the Freightliner, Western Star and Thomas Built Buses brands. Hartmut Schick, as CEO of #Daimlertrucks Asia, is responsible for the Asia region and the FUSO and BharatBenz brands. Dr. Andreas Gorbach will head the #truck Technology Group in future. Stephan Unger will be responsible on the Board of Management for the future #Daimler #truck Financial Services. Jochen Götz is responsible for Finance and Controlling. Jürgen Hartwig is responsible for Human Resources.