Daimler Financial Services AG announces Top Management Rotation

Stuttgart, Germany:, Nov. 15, 2018 (GLOBE NEWSWIRE) — Daimler Financial Services AG announced today that Klaus Entenmann, Chairman of the Daimler Financial Services AG Board of Management (BoM), will step down from his position in May 2019. This move allows a smooth transition to a new leadership team before his scheduled retirement in December 2019. The 62-year-old Klaus Entenmann will remain with the company and continue to focus on strategic projects and the further development of the mobility services portfolio.

“Klaus Entenmann has been an outstanding and very accomplished leader within our organization for the last 30 years. He has dynamically grown the portfolio, has been instrumental in transforming the company into an integrated financial and mobility services company and has made the company one of the most globally respected to work for, according to the Great Place to Work Institute,” stated Bodo Uebber, Daimler Board of Management member responsible for Finance and Controlling and the business division Daimler Financial Services AG. “The hand over to Franz Reiner ensures a smooth transition to the new leadership, as we are able to tap into one of the outstanding leaders in our organization for this important role,” added Uebber.

As a result of Entenmann’s stepping down, the following changes will take place in the Daimler Financial Services AG Board of Management effective June 1, 2019:

Franz Reiner, currently BoM member responsible for Europe, will become Chairman of Daimler Financial Services AG and report into Bodo Uebber. He is currently also responsible as CEO for the Mercedes-Benz Bank AG and for the Athlon business. Since joining the company in 1992, Reiner has held various positions in Europe and North America in operations, sales and marketing. In 2009, he was appointed to the Board of Management of Daimler Financial Services AG responsible for the Americas region before taking on his current responsibility in 2011.

A successor for Franz Reiner as CEO of the Mercedes-Benz Bank AG as well as a successor for Klaus Entenmann as the Chairman of the Supervisory Board of the Mercedes-Benz Bank AG will be announced shortly.

Peter Zieringer, currently BoM member responsible for the Americas region will succeed Franz Reiner as BoM member responsible for Europe – including the German market. He joined the company in 1993 and played an integral role in setting up the company’s operations in Asia. Since 2005, he led the Mercedes-Benz Bank and in 2011, became the BoM member responsible for the Americas region, which has experienced enormous growth over the seven years.

Peter Henn, currently BoM member responsible for the Africa and Asia Pacific region, will succeed Peter Zieringer as BoM member for the Americas region. Henn joined the Daimler Group in 2007 as Head of Corporate Audit and Corporate Governance. In 2010, he was named Chief Audit Executive of Daimler. Since 2014, he has been BoM member for the region Africa and Asia Pacific. In this role, he is responsible for eleven dynamic markets in one of the fastest-growing regions.

Yvonne Rosslenbroich, currently BoM member for Human Resources and Labor Relations Director, will be promoted to BoM member for the Africa and Asia Pacific region, succeeding Peter Henn. In her current role, she has been responsible for the global HR strategy for 40 countries with approximately 14,000 employees since 2015. Prior to this position, she led several markets as both Managing Director and Chief Financial Officer.

In July 2019, the planned renaming of the company from Daimler Financial Services AG into the Daimler Mobility AG will take place. “Having worked with these outstanding leaders for such a long time, I am confident that they will continue to lead Daimler Financial Services into a very-successful Daimler Mobility AG future, as we further shape the way mobility is experienced and consumed around the globe,” added Uebber.


Florian Otto, +49 711-2574 5868, florian.otto@daimler.com

Harald Bertsch, +49 711-2574 4010, harald.bertsch@daimler.com

Further information from Daimler is available at:
www.media.daimler.com and www.daimler-financialservices.com

This document contains forward-looking statements that reflect our current views about future events. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend,” “may,” ”can,” “could,” “plan,” “project,” “should” and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates and tariff regulations; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labor strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending government investigations or of investigations requested by governments and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading “Risk and Opportunity Report” in the current Annual Report.
If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.

Daimler at a Glance
Daimler AG is one of the world’s most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks,
Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world’s biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides financing, leasing, fleet management, insurance, financial investments, credit cards, and innovative mobility services. The company’s founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. As a pioneer of automotive engineering, it is a motivation and commitment of Daimler to shape safely and sustainably the future of mobility: The Group’s focus is on innovative and green technologies as well as on safe and superior automobiles that appeal and fascinate. Daimler consequently invests in the development of efficient drive trains with the long-term goal of locally emission-free driving: from high-tech combustion engines about hybrid vehicles to electric drive trains powered by battery or fuel cell. Furthermore, the company follows a consistent path towards intelligent connectivity of its vehicles, autonomous driving and new mobility concepts. This is just one example of how Daimler willingly accepts the challenge of meeting its responsibility towards society and the environment. Daimler sells its vehicles and services in nearly all the countries of the world and has production facilities in Europe, North and South America, Asia, and Africa. Its current brand portfolio includes, in addition to the world’s most valuable premium automotive brand, Mercedes-Benz (Source: Interbrand-Study, 10/4/2018), as well as Mercedes-AMG, Mercedes-Maybach and Mercedes me, the brands smart, EQ, Freightliner, Western Star, BharatBenz, FUSO, Setra and Thomas Built Buses, and Daimler Financial Services’ brands: Mercedes-Benz Bank, Mercedes-Benz Financial Services, Daimler Truck Financial, moovel, car2go and mytaxi.
The company is listed on the stock exchanges of Frankfurt and Stuttgart (stock exchange symbol DAI). In 2017, the Group sold around 3.3 million vehicles and employed a workforce of more than 289,300 people. With application of IFRS 15 and IFRS 9 in financial year 2017, Group revenue would have amounted to €164.2 billion and Group EBIT would have amounted to €14.3 billion. Before application of IFRS 15 and 9, Group revenue in 2017 amounted to €164.3 billion and Group EBIT amounted to €14.7 billion, as previously reported.

Melinda Mernovage Daimler Financial Services Africa & Asia Pacific melinda.mernovage@daimler.com

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