New Daimler AG

New Daimler AG
Due to the new corporate structure, the name of DaimlerChrysler AG is to be changed to Daimler AG. A decision on this is to be taken by the shareholders at an Extraordinary Shareholders’ Meeting probably in fall 2007.The Board of Management of the new company will be reduced to six members. Tom LaSorda, Eric Ridenour and Tom Sidlik will leave the Board of Management with the Group’s sincere thanks.There will no longer be a separate board position for procurement in the new Daimler AG. In the future, all procurement activities will be directly coordinated between the divisions. Within the Board of Management, Bodo Uebber will additionally assume overall responsibility for procurement.The leadership teams of the Mercedes Car Group, the Truck Group and Financial Services will remain unchanged, as will the teams in the vans and buses businesses.Zetsche: “We’ve done our homework in our corporate functions and in all of our divisions. As a result of our strategic review, we have a well-defined roadmap to lead us into a good future.”The Mercedes Car Group will generate a return on sales of at least 7% this year, with higher rates to follow in the coming years.The Truck Group will achieve an average return on sales of 7% over the cycle as of 2008. This represents a return on net assets of approximately 30%.DaimlerChrysler is also a world leader and profitability benchmark for buses. And in the vans business, which is performing very well, the new Sprinter will continue the success story of its predecessor.The Financial Services division aims to earn a return on equity of more than 14%.