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

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.