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Mercedes-Benz Group AG Supervisory Board reappoints Ola Källenius and Markus Schäfer and sharpens areas of responsibility of Board of Management

Early reappointment of Ola Källenius as Chairman of the Board of Management of Mercedes-Benz Group AG and Markus Schäfer (Chief Technology Officer and Board of Management member responsible for Development & Procurement)

The Supervisory Board reappointed Ola Källenius (54) as Chairman of the Board of Management of Mercedes-Benz Group AG until May 21, 2029, at its meeting today. It also extended the contract of Markus Schäfer (58) until May 21, 2026. As Chief Technology Officer, Markus Schäfer is the Board of Management member responsible for Development & Procurement.

Ola Källenius has put Mercedes-Benz in an excellent position for the future.
With the clear focus of the company on electrification, digitalisation and profitable growth with desirable cars and vans, he has demonstrated far-reaching strategic vision. In implementing the sustainable business strategy, he demonstrates determination and a sense of responsibility to all of the company’s employees in this transformative era. Mercedes-Benz is now more focused, resilient and efficient. And the innovative power of the world’s most valuable luxury car brand is more impressive than ever. Markus Schäfer and his team have made decisive contributions to provide Mercedes-Benz with state-of-the-art technology to back this market-leading position. The two managers enjoy the greatest respect inside and outside the company. We are very much looking forward to our continuing working relationship.”

Bernd Pischetsrieder, Chairman of the Supervisory Board of Mercedes-Benz Group AG

In accordance with the German Stock Corporation Act (AktG) and its own rules, the Supervisory Board renews appointments of members of the Board of Management in the final year of their term of office. The current contracts of Ola Källenius and Markus Schäfer are due to expire in May 2024. Last year, the Supervisory Board decided on more flexible guidelines for the appointment and reappointment of members of the Board of Management: For members who are 58 or 59 years old at the beginning of the contract, the term of office should not exceed two years; from the age of 60 years onwards, it should not exceed one year. Multiple contract extensions are possible.

Strengthening sustainability management with central coordination

In a further decision, the Supervisory Board established a cross-divisional steering and coordination function at the Board of Management level for sustainability management. Renata Jungo Brüngger will additionally take charge of this new function effective August 1, 2023, as part of her area of responsibility, which will be renamed Integrity, Governance & Sustainability (previously: Integrity & Legal Affairs). With this move, Mercedes-Benz takes into account the growing complexity and increasing regulatory importance of this multi-faceted topic and is creating a central point of contact for all relevant stakeholder groups. Responsibility for the function-specific management of sustainability topics will remain in the respective Board of Management areas.

For Mercedes-Benz, sustainability means creating permanent value for all stakeholder groups: customers, employees, investors, business partners and society as a whole. In doing so, the company combines economic, environmental and social responsibility along the entire value chain.

“By placing central coordination at the Board of Management level, we are highlighting the fundamental importance of sustainability for the future success of the company. With Renata Jungo Brüngger, an experienced manager is taking on this crucial responsibility at Mercedes-Benz. The fact that sustainability is already firmly embedded in our corporate strategy today must be largely credited to her efforts. In close cooperation with all Board of Management areas, she together with her team will continue to drive our
sustainable business strategy forward.”

Bernd Pischetsrieder, Chairman of the Supervisory Board of Mercedes-Benz Group AG

Titles of Board of Management functions

At its meeting today, the Supervisory Board also decided to change the title of Jörg Burzer’s Board of Management function to Production, Quality & Supply Chain Management (previously: Production & Supply Chain Management). This is to underline the importance of quality for the Mercedes-Benz brand and to underscore the combined responsibility for this topic also within the divisional title. The function of Sabine Kohleisen will be renamed Human Relations (previously: Human Resources). Consequently, the name of this function now emphasises the centrality of cooperation with and between people for the personnel-related activities of Mercedes-Benz.

SOURCE: Mercedes-Benz

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