Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Xetra  >  Daimler AG    DAI   DE0007100000

Real-time Quote. Real-time Tradegate - 08/31 04:23:44 pm
62.4 EUR   +0.14%
02:08p DAIMLER : Ten reasons for free-floating car-sharing
09:43aDJVW Scandal Has Sped Up Audi's Push Into Electric Vehicles, Execut..
08/29 SMART TIMES 201 : Longest smart parade drives through Hamburg with m..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Daimler AG : Mercedes-Benz strengthens Formula 1 racing team

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/21/2013 | 02:14pm CEST

• Toto Wolff new shareholder and executive director of Mercedes-Benz Grand Prix Ltd.

• Niki Lauda, chairman of Mercedes-Benz Grand-Prix Ltd., also a new shareholder

Daimler AG plans to reorganize its Formula 1 activities. In this context, Daimler has signed a letter of intent with Austrian investor and motorsport manager Toto Wolff, according to which Wolff will acquire a significant minority interest in the Daimler subsidiary Mercedes-Benz Grand Prix Ltd. (MGP) and will also head that company as its executive director. Furthermore, Niki Lauda, currently non-executive chairman of MGP, will also acquire a stake in the company. Together with Ross Brawn, Lauda and Wolff will complete the management of the Mercedes-Benz Formula 1 racing team.

"As an entrepreneur, investor and motorsport manager, Toto Wolff has proven that this sport runs in his blood; at the same time, he is also well aware of the economic necessities of the business. With Toto Wolff, we have gained for our Formula 1 team not only an experienced motorsport specialist, but also a longstanding enthusiast of the Mercedes-Benz brand. Together with him and Niki Lauda, we will further develop our motorsport activities and guide our Silver Arrows into the next era," stated Dr. Dieter Zetsche, Head of Mercedes-Benz Cars and Chairman of the Board of Management of Daimler AG.

Toto Wolff is to become both a shareholder and executive director of Mercedes-Benz Grand Prix Ltd., and will take over the complete coordination of all Mercedes-Benz motorsport activities.

Wolff sees his new task as one of the most exciting challenges in motorsport: "Mercedes is one of the most important participants in motorsport worldwide. I am not only a big fan, but also a longstanding friend and enthusiast of the brand. I am looking forward to the challenge and, along with preparing for a successful racing season, also want to focus on the targeted promotion of new talent."

"I am leaving Williams on good terms and I will miss the team and friends I have made there. I'd also like to wish Frank and the whole of Williams the best of luck for the future", Wolff added.

Toto Wolff started his motorsport career in Formula Sport in 1992. Since 1998, Wolff has founded several venture capital companies. His current investments include an interest in HWA AG, the partner of Mercedes-Benz Motorsport in DTM racing. In November 2009, he acquired a stake in British racing team Williams Grand Prix Holdings PLC and joined its board of directors. Since July 2012, Toto Wolff has been a member of that team's management. Toto Wolff will resign from that position when he joins Mercedes-Benz, but will remain a Williams shareholder.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on DAIMLER AG
02:08p DAIMLER : Ten reasons for free-floating car-sharing
09:43aDJVW Scandal Has Sped Up Audi's Push Into Electric Vehicles, Executive Says
08/30 DAIMLER : DIMO organises Mercedes-Benz Star Experience in Galle
08/29 SMART TIMES 2016 : Longest smart parade drives through Hamburg with more than 1,..
08/26 DAIMLER : 'Giving back is in Mercedes-Benz's DNA'
08/25 DAIMLER : Denis Bellemare appointed General Manager at Mercedes-Benz Laval
08/25 DAIMLER : Patent Issued for Motor Vehicle Having a Driver Assistance Unit (USPTO..
08/25 DAIMLER : Mercedes-Benz India launches the GLE 400 4MATIC in petrol variant
08/25DJDAIMLER : Mercedes-Benz to Start Voluntary Layoffs in Brazil -- Update
08/25DJDAIMLER : Mercedes-Benz to Start Voluntary Layoffs in Brazil
More news
Sector news : Auto & Truck Manufacturers - NEC
04:21p SOLARCITY : Faced with crunch, Tesla plans to raise additional cash this year
03:26pDJTESLA MOTORS : to Pay $422 Million to Bondholders
09:43aDJVW Scandal Has Sped Up Audi's Push Into Electric Vehicles, Executive Says
09:02a VW could agree U.S. large-car diesel emissions settlement by October - Audi e..
08:50aDJBusiness Watch -- WSJ
More sector news : Auto & Truck Manufacturers - NEC
News from SeekingAlpha
08/29 EV Company News For The Month Of August 2016
08/27 Automakers look to disrupt at this year's Paris Motor Show
08/24 Daimler sweeps bureaucratic style away
08/22 CHANGE IN THE CAR INDUSTRY ACCELERAT : Who Needs A Steering Wheel? Ford Doesn't
08/22 Daimler warns on back-half sales growth slowdown in China
Advertisement
Financials (€)
Sales 2016 153 522 M
EBIT 2016 12 881 M
Net income 2016 8 523 M
Debt 2016 8 922 M
Yield 2016 5,30%
P/E ratio 2016 7,86
P/E ratio 2017 7,40
EV / Sales 2016 0,49x
EV / Sales 2017 0,47x
Capitalization 66 662 M
More Financials
Chart DAIMLER AG
Duration : Period :
Daimler AG Technical Analysis Chart | DAI | DE0007100000 | 4-Traders
Full-screen chart
Technical analysis trends DAIMLER AG
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 72,2 €
Spread / Average Target 16%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Dieter Zetsche Chairman-Management Board & CEO
Manfred Bischoff Chairman-Supervisory Board
Thomas Weber Head-Group Research & Member-Management Board
Jan Brecht Chief Information Officer
Clemens A. H. Boersig Member-Supervisory Board
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DAIMLER AG-21.08%74 313
TOYOTA MOTOR CORP-16.41%200 211
VOLKSWAGEN AG-7.14%71 733
BAYERISCHE MOTOREN WER..-20.90%56 732
HONDA MOTOR CO LTD-17.40%55 431
FORD MOTOR COMPANY-10.93%49 864
More Results