Daimler - AGM 31 March 2021
General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company.
Items 5a-5c: We recommend to oppose the reappointment of KPMG as auditor of the Company. The auditor's long tenure raises independence concerns.
Item 6a: We recommend to oppose the election of Ms. Centoni to the Supervisory Board due to concerns over aggregate time commitments.
Item 7: We recommend to oppose the approval of the amended remuneration of the Supervisory Board members and the related amendments to the Company's Articles of Association as it significantly exceeds market practice.
Daimler provides a range of transportation products, including passenger cars and commercial vehicles, and also financial services. Co. operates in five segments. Mercedes-Benz Cars sells passenger cars and off-road vehicles under the Mercedes-Benz brand and small cars under the smart brand. The Daimler Trucks distributes its trucks (Mercedes-Benz, Freightliner, FUSO, Western Star, Thomas Built Buses and BharatBenz). The vans of the Mercedes-Benz Vans segment are sold under the brand name Mercedes-Benz and Freightliner. Daimler Buses sells completely built-up buses (Mercedes-Benz and Setra). The Daimler Financial Services division supports sales of Co.'s automotive brands.
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