Proxy Report - 05/04/2018
Item 4: We uphold our recommendation to oppose the discharge of the Supervisory Board due to its decision not to claim for compensation against former or current Management Board members in connection with the conclusion of the European Commission's antitrust proceedings against the Company as we consider the investigations carried out to date to be insufficient and the Supervisory Board's decision not to be in the best interest of the Company's shareholders.
Items 5a and 5b: KPMG, Berlin, is proposed as auditor for the current financial year as well as for the review of the interim financial statements 2019 until the next AGM. We have no concerns over the ratio of non-audit/audit fees. However, we note that KPMG or its predecessors have audited the Company since at least the financial year 1979 which significantly exceeds our maximum acceptable term of office. We therefore recommend opposing the re-election of KPMG as auditor.
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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