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Daimler CEO-elect Ola Källenius to lead Mercedes-Benz following reorganization

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Daimler CEO-elect Ola Källenius to lead Mercedes-Benz following reorganization

Daimler AG plans for Ola Källenius, who has already been confirmed as its next CEO, to also become CEO of Mercedes-Benz AG once the luxury-car maker becomes a legally independent business, the company said March 25.

Daimler in July 2018 announced it would separate its Mercedes-Benz cars and vans division and its Daimler Truck unit into independent entities. Daimler plans to appoint its current head of Daimler Trucks, Martin Daum, as CEO of the proposed new company, Daimler Truck AG, it said in the March 25 statement.

Daimler also agreed on the election of shareholder representatives and employee representatives of the supervisory boards and directors of the management boards of the two new entities.

The nominations and the creation of the independent companies will be presented to shareholders for their approval at Daimler's annual general meeting May 22. Daimler will also propose that Ola Källenius become chairman of the board of directors of Daimler Truck AG and that Daimler AG chairman Manfred Bischoff take up the same role at Mercedes-Benz AG.

Daimler Truck AG will be responsible for the global truck and bus business, while Daimler Financial Services, which is already a separate legal entity, will be renamed Daimler Mobility AG from July.

Sweden-born Källenius, currently head of group research and Mercedes-Benz cars development, was named in September 2018 as the successor to Daimler CEO Dieter Zetsche, who has been at the helm since 2006. Zetsche will return to Daimler in 2021 as chairman, replacing Manfred Bischoff, after spending two years away from the company, as is mandatory under German corporate law.