The Board of Daimler AG (XTRA:DAI) announced the spin-off of a 65% stake in Daimler Truck AG on February 3, 2021. Under the terms, Daimler AG will issue 1 share for every two shares. Daimler Truck AG will have fully independent management and a stand-alone corporate governance. Daimler would seek for Supervisory Board representation at Daimler Truck in line with the intended deconsolidation. On April 26, 2021, Daimler Truck AG announced the composition of its new Board of Management and a series of significant management and organizational changes, set to take place as of July 1, 2021. Andreas Gorbach, currently Chief Executive Officer of the fuel cell joint venture cell centric with Volvo Group will join the Daimler Truck AG board to lead the Truck Technology Group. Sven Ennerst, previously responsible for Development, Purchasing and Region China, will pursue as General Representative China until the end of the year. Frank Reintjes, previously responsible for the Global Powertrain division, will accompany the realignment of Daimler Truck AG as a Senior Executive Advisor to the Chief Executive Officer until the end of the year. Both executives will start their well-deserved retirement at the end of the year. New board division for customized financial services for Daimler Truck & Bus customers, headed by Stephan Unger, currently responsible for Finance & Controlling, Risk Management and Digital Mobility Solutions on the Board of Management of Daimler Mobility AG. In this capacity, Stephan Unger will become a member of the Board of Management of Daimler Truck AG as per that date. After the planned spin-off of Daimler Truck by the end of this year the shareholders of Daimler AG will hold a 65% stake in the new Daimler Truck Holding AG, which will then be listed on the stock exchange as an independent company. Daimler shareholders will receive one additional Daimler Truck Holding AG share for every two shares held. Daimler will retain a minority stake of 35% in Daimler Truck Holding AG, of which a stake of 5% will be transferred to the Daimler Pension Trust. Joe Kaeser has been nominated to lead the Supervisory Board as chairman. Marie Wieck, Laura Ipsen, Jacques Esculier, Martin Richenhagen, Akihiro Eto, John Krafcik, as well as Michael Brosnan are to be appointed to the Supervisory Board representing the shareholders. Renata Jungo Brüngger, Member of the board of management of Daimler AG and Mercedes-Benz AG responsible for Integrity and Legal, as well as Harald Wilhelm, Member of the Board of Management of Daimler AG and Mercedes-Benz AG responsible for Finance & Controlling, have also been nominated for the Supervisory Board. As of August 12, 2021, Daimler AG sells all registered or acquired rights to the Daimler brand and the associated brand families and domains to Daimler Truck AG for €9.7 million, plus sales tax. The transaction requires the approval of an extraordinary shareholders' meeting of Daimler AG, which could be held at the end of Q3 2021. In this case, the transaction and the listing of Daimler Truck at the Frankfurt stock exchange are planned to be completed before year-end 2021. An extraordinary general meeting is planned for October 1, 2021. Also on the agenda for the shareholders' approval is the renaming of Daimler AG as Mercedes-Benz Group AG effective February 1, 2022. The board of management and supervisory board of Daimler AG have given the go-ahead for the company's historic realignment and the ongoing roadmap as of July 30, 2021. On August 2, 2021, Daimler Truck has received the go-ahead to become a stand-alone company from the Board of Management and Supervisory Board of Daimler AG. As of October 1, 2021, Daimler AG shareholders approved the Spin-off transaction. The Competition Commission of India (CCI) has approved the internal corporate reorganization of the Daimler AG. As of November 11, 2021, the transaction is expected to complete on December 10, 2021, with the listing of Daimler Truck AG. Hans-Ulrich Wilsing, Ralph Wollburg and Marco G. Carbonare of Linklaters LLP acted as legal advisors to the Management Board and the Supervisory Board of Daimler AG. Citigroup Inc. (NYSE:C) and BofA Securities, Inc. acted as financial advisors to Daimler AG. Sullivan & Cromwell LLP (UK) acted as legal advisor to Daimler AG (XTRA:DAI).

Daimler AG (XTRA:DAI) completed the spin-off of a 65% stake in Daimler Truck Holding AG (DB:DTG) on December 9, 2021. Daimler Truck Holding AG started trading on Frankfurt Stock Exchange as an independent company from December 10, 2021. Martin Daum has been appointed as Chairman of the board of management of Daimler Truck Holding AG.