Extension of the contract of the experienced manager until December 31, 2024
Extension in line with new guidelines for the appointment and reappointment of members of the Board of Management
STUTTGART, Germany, February 16, 2023--(BUSINESS WIRE)--At its meeting today, the Supervisory Board of Mercedes-Benz Group AG reappointed Renata Jungo Brüngger (61) until the end of 2024. Renata Jungo Brüngger has been a member of Mercedes-Benz Group AG’s Board of Management since January 1, 2016, responsible for Integrity and Legal Affairs and Co-Chair of the Group Sustainability Board.
"We are looking forward to further working together with this experienced manager. Renata Jungo Brüngger is doing an outstanding job for Mercedes-Benz. With her sense for social and legal developments and her strategic drive, she makes a significant contribution to the long-term success of our company. In doing so, she plays a decisive role in ensuring that sustainability is firmly anchored within the corporate strategy. In recent years, she has resolved complex legal proceedings from the past in the best interests of the company. At the same time, she focused her department responsible for integrity, legal affairs, compliance and corporate audit on important future topics."
Bernd Pischetsrieder, Chairman of the Supervisory Board of Mercedes-Benz Group AG
Renata Jungo Brüngger's contract would have expired at the end of 2023. The Supervisory Board decides, in accordance with its rules of procedure and applicable law, on the reappointment of members of the Board of Management after the beginning of the last year of the respective term of office.
Last year, the Supervisory Board had already decided on more flexible guidelines for the appointment and reappointment of members of the Board of Management: For board members aged 58 or 59 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 extensions of contracts are possible.
Following the new guidelines, Renata Jungo Brüngger's contract has now been extended by one year until December 31, 2024.
This document contains forward-looking statements that reflect our current views about future events. The words "anticipate," "assume," "believe," "estimate," "expect," "intend," "may," "can," "could," "plan," "project," "should" and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our refinancing possibilities on the credit and financial markets; events of force majeure including natural disasters, pandemics, acts of terrorism, political unrest, armed conflicts, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates, customs and foreign trade provisions; a shift in consumer preferences towards smaller, lower-margin vehicles; a possible lack of acceptance of our products or services which limits our ability to achieve prices and adequately utilize our production capacities; price increases for fuel or raw materials; disruption of production due to shortages of materials, labour strikes or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook for companies in which we hold a significant equity interest; the successful implementation of strategic cooperations and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending governmental investigations or of investigations requested by governments and the outcome of pending or threatened future legal proceedings; and other risks and uncertainties, some of which are described under the heading "Risk and Opportunity Report" in the current Annual Report or in the current Interim Report. If any of these risks and uncertainties materializes or if the assumptions underlying any of our forward-looking statements prove to be incorrect, the actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements since they are based solely on the circumstances at the date of publication.
Mercedes-Benz Group at a glance
Mercedes-Benz Group AG is one of the world's most successful automotive companies. With Mercedes-Benz AG, the Group is one of the leading global suppliers of premium and luxury cars and vans. Mercedes-Benz Mobility AG offers financing, leasing, car subscription and car rental, fleet management, digital services for charging and payment, insurance brokerage, as well as innovative mobility services. The company founders, Gottlieb Daimler and Carl Benz, made history by inventing the automobile in 1886. As a pioneer of automotive engineering, Mercedes-Benz sees shaping the future of mobility in a safe and sustainable way as both a motivation and obligation. The company's focus therefore remains on innovative and green technologies as well as on safe and superior vehicles that both captivate and inspire. Mercedes-Benz continues to invest systematically in the development of efficient powertrains and sets the course for an all-electric future: The brand with the three-pointed star pursues the goal to go all-electric, where market conditions allow. Shifting from electric-first to electric-only, the world’s pre-eminent luxury car company is accelerating toward an emissions-free and software-driven future. The company's efforts are also focused on the intelligent connectivity of its vehicles, autonomous driving and new mobility concepts as Mercedes-Benz regards it as its aspiration and obligation to live up to its responsibility to society and the environment. Mercedes-Benz sells its vehicles and services in nearly every country of the world and has production facilities in Europe, North and Latin America, Asia and Africa. In addition to Mercedes-Benz, the world's most valuable luxury automotive brand (source: Interbrand study, 20 Oct. 2021), Mercedes-AMG, Mercedes-Maybach, Mercedes-EQ and Mercedes me as well as the brands of Mercedes-Benz Mobility: Mercedes-Benz Bank, Mercedes-Benz Financial Services and Athlon. The company is listed on the Frankfurt and Stuttgart stock exchanges (ticker symbol MBG). In 2021, the Group had a workforce of around 172,000 and sold 2.3 million vehicles. Group revenues amounted to €168.0 billion and Group EBIT to €29.1 billion.
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