4 Aug 21

Daimler spins off trucks and renames itself Mercedes-Benz Group

Later this year, Daimler will be renamed Mercedes-Benz Group to reflect the company’s new focus on the car and van business. Daimler’s truck division will be spun off into the Daimler Truck Holding.

At an extraordinary general meeting on 1 October, shareholders will vote on the changes. They will receive one share in the trucks division for every two Daimler shares.

The new Mercedes-Benz Group will retain a 35% stake in Daimler Truck Holding.

“Daimler’s realignment makes one success story into two,” said Daimler CEO Ola Kallenius (pictured right) in a statement.

As an independent company, Daimler Truck Holding will be the world market leader, comprising the brands Mercedes-Benz, Freightliner, Setra, Thomas Built Buses and FUSO.

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Photo copyright: Shutterstock, Portrait of Mr Kallenius: Daimler

Authored by: Benjamin Uyttebroeck