Daimler will be split and renamed Mercedes-Benz Passenger and truck divisions will become separate companies

Large-scale changes await the German concern Daimler: the management decided to split it into two independent companies – “passenger” Mercedes-Benz Cars & Vans and “cargo” Daimler Trucks & Buses.

Daimler’s Supervisory Board and Management Board announced a fundamental change to the corporate structure. As part of increasing business efficiency, the concern was decided to be divided into two independent companies and renamed: cars and vans will be produced by Mercedes-Benz Cars & Vans, and trucks and buses – by Daimler Trucks & Buses. All formalities related to the reorganization must be agreed and approved in the third quarter. Daimler’s management believes that independent management should help companies make faster decisions and become even more flexible and competitive manufacturers.

“This is a historic moment for Daimler and the beginning of a profound transformation. Mercedes-Benz Cars & Vans and Daimler Trucks & Buses are becoming separate businesses with their own customer groups, technology paths and capital needs. We are confident in the financial and operational stability of our divisions, ”said the current head of the concern, Ola Kallenius, who, after the separation, will head the“ passenger ”company. The management of the “cargo” company will be a member of the management board of the concern Martin Daum. The controlling stake in Daimler Trucks & Buses will be distributed among the current shareholders of the concern.