Daimler : Joint management of Daimler Treasury and Investor Relations

• Kurt Schäfer, Head of Treasury Daimler AG, to take on the position of Special Advisor Project Focus Treasury before retiring at the end of 2021
• Steffen Hoffmann to take over as Head of Treasury Daimler AG on 1 September 2021, in addition to his current position as Head of Investor Relations

Stuttgart (Germany) - After more than 25 years, Kurt Schäfer (61), Head of Treasury Daimler AG, is ending his career in the company's Finance department and will retire on 31 December 2021. Steffen Hoffmann (51), Head of Investor Relations Daimler AG, will take over as Head of Treasury on 1 September 2021 in addition to his current responsibilities. Until the end of the year, Kurt Schäfer will be responsible for the implementation of all Treasury-related aspects of Project Focus in the role of Special Advisor. In this position, he will report to Harald Wilhelm, Member of the Board of Management of Daimler AG responsible for Finance & Controlling and Daimler Mobility.

'Kurt Schäfer has helped to shape the Finance department at Daimler AG for more than two decades. I would like to thank him wholeheartedly for his outstanding work, especially for focusing on our cash flow, and for his willingness to continue to support the planned division of the Daimler business within the framework of Project Focus until the end of the year. With Steffen Hoffmann, an extremely experienced executive will succeed him as Head of Treasury. I am very pleased that he is taking on this task in addition to his successful work at the helm of Investor Relations. In the future, two key and closely related financial functions will be headed by one person,' said Harald Wilhelm.

Steffen Hoffmann became Head of Investor Relations on 1 April 2020 and before that was Head of Finance & Controlling Greater China. From 2011 until 2017, he was a Member of the Management of EvoBus and Head of Finance & Controlling Daimler Buses. He previously held various management positions, mainly in Daimler's Finance department. Hoffmann joined the then junior management group of Mercedes-Benz AG in 1996 after completing his industrial engineering studies at the Technical University of Karlsruhe and his MBA studies at the University of Massachusetts in Dartmouth (USA).

Kurt Schäfer has been Head of Treasury since 2013 and before that was in charge of Treasury Risk Management at Daimler AG for almost eight years. As of 1995, he had held various positions in Finance & Controlling at the Daimler Group. After studying economics at the University of Stuttgart-Hohenheim, Schäfer worked for the BHF Bank in Frankfurt, New York and Prague from 1986 to 1994.