Given the global scope of its business and the technologies and trends that have put each under siege, Daimler announced Thursday it would split the company into three legally independent entities.
Mercedes-Benz AG will serve as the company’s car and van division, Daimler Truck AG as the commercial truck and bus segment and Daimler Mobility AG will focus on financial and mobility services.
All three divisions will operate under the umbrella of Daimler AG.
“The new structure positions Daimler to tackle the rapid pace of change in the mobility sector and the corresponding strategic challenges,” says Manfred Bischoff, chairman of the Supervisory Board of Daimler AG. “Legally independent divisions will sharpen our focus on the future success of the business.”
Dieter Zetsche, chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars, says the company is reshaping the organization to “put Daimler in the best position for the future: technologically, culturally – as well as structurally. At the heart of all these changes are the needs of our customers around the world: With this new structure we will be able to offer them mobility solutions even better tailored to their needs.”
The new structure involves reassigning more than 700 subsidiaries in more than 60 countries, adds Bodo Uebber, member of the Board of Management of Daimler AG for Finance & Controlling and Daimler Financial Services.