Mercedes-Benz UK and Chrysler UK emerge from DaimlerChrysler

It was agreed at an Extraordinary Shareholders’ Meeting in Germany recently that DaimlerChrysler AG, parent company of the Milton Keynes-based DaimlerChrysler companies in the UK, should be renamed Daimler AG. This reflects the sale of the company’s Chrysler Group business interests to Cerberus Capital Management in the US, establishing the new company, Chrysler LLC. There will, as a consequence, be changes to the Group’s companies in the UK.

With effect from 1 November 2007, the company’s Mercedes-Benz Cars (Mercedes-Benz passenger cars, smart, Maybach) and Commercial Vehicle (Mercedes-Benz, Mitsubishi Fuso) business will be operated by a renamed Mercedes-Benz UK Limited. The company’s retail subsidiary will become Mercedes-Benz Retail Group UK Limited.

A new company, Chrysler UK Limited, will take over head office operations for the Chrysler, Jeep and Dodge business in this country.

In a similar process, although not until April 2008, DaimlerChrysler Financial Services UK will become Mercedes-Benz Financial Services UK Limited, and will also continue to operate as the exclusive financial services partner for the Chrysler, Jeep and Dodge brands.

Reflecting their wider remit involving all brands of vehicles, DaimlerChrysler Fleet Management will be renamed Daimler Fleet Management UK Limited and DaimlerChrysler Insurance Services will become Daimler Insurance Services UK Limited. These changes will also take effect in April 2008.

Wilfried Steffen will continue as President and CEO of the renamed Mercedes-Benz UK and Bob Middleton as Managing Director of Mercedes-Benz Financial Services UK. Peter Lambert, currently Managing Director of Chrysler Group activities within DaimlerChrysler UK, will step down from this role with effect from 1 November. He will be succeeded by Simon Elliott, who will serve as an interim Managing Director of the new Chrysler UK Limited, a role he will combine with his current international responsibilities with Chrysler LLC.

The companies will continue to operate from their current sites and all UK staff will continue to be employed by the new or renamed companies; with all undertakings transferred as appropriate.

Wilfried Steffen commented: "Our priority has been to ensure that our staff are able to move forward in their new, or renamed, company with maximum continuity and the minimum of inconvenience. Mercedes-Benz and Chrysler LLC each have strong teams and brands that are already well established in the UK; and they will continue to work with and alongside each other to strengthen further their respective businesses in this market."