Daimler AG CFO Bodo Uebber will step down from his post when his term ends in December 2019, according to an Oct. 7 release.

The German carmaker did not disclose a reason for Uebber's planned departure.

Uebber is leaving ahead of the company's proposed reorganization, which will see Mercedes-Benz, Daimler Truck and Daimler Mobility operating as legally independent divisions under the Daimler group.

The proposed restructuring is subjected to shareholders' approval at the annual general meeting on May 22, 2019.