Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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


News SummaryMost relevantAll newsSector newsTweets 

Daimler AG : Mercedes-Benz strengthens Formula 1 racing team

share with twitter share with LinkedIn share with facebook
share via e-mail
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
Latest news on DAIMLER
11:44a DAIMLER : Rail workers in strike threat over 'bullying'
11:17a DAIMLER : Freightliner Displays First Production of Near Zero Emission Lng-Power..
10:04a DAIMLER : In the heart of the paddock
09:19a 30 JUNE TO 2 JULY 2017 : Classic Rally in the Bergisches Land: 300 SL Roadster a..
06/21 Premium Aerotec picks way through 3D printing challenges
06/21 SPORTINESS IN THE BRAND DNA : Game-changer with Mercedes-Benz at Goodwood Festiv..
06/21 DAIMLER - THE HOLISTIC PHILOSOPHY : Powered by the wind, from the car to the gri..
06/21 “THE MOBILITY SPACE REPORT : What the Street!?”: new moovel lab proj..
06/21 TALES FROM THE PADDOCK – PAUL : “The way things are going at the mo..
06/21 MITSUBISHI : Fuso logs 24% gain in Jan.-May sales in Indonesia
More news
Sector news : Auto & Truck Manufacturers - NEC
06/21 For thousands of U.S. auto workers, downturn is already here
06/21 Harley-Davidson enters race to buy Italian rival Ducati - sources
06/21 TESLA : autopilot software head quits in less than six months
06/20DJFORD MOTOR : to Import Focus to U.S. From China -- 3rd Update
More sector news : Auto & Truck Manufacturers - NEC
News from SeekingAlpha
06/20 Tesla's Warranty Expense And What It Means To Its Future
06/10 Retail sector looks to shake off border tax talk
06/09 Global EV Sales Possibly To Surpass One Million In 2017
06/09 Meet the world's 4th largest automaker by market cap
Financials (€)
Sales 2017 161 436 M
EBIT 2017 14 485 M
Net income 2017 9 785 M
Debt 2017 11 610 M
Yield 2017 5,31%
P/E ratio 2017 7,12
P/E ratio 2018 7,26
EV / Sales 2017 0,51x
EV / Sales 2018 0,52x
Capitalization 70 021 M
More Financials
Duration : Period :
Daimler Technical Analysis Chart | DAI | DE0007100000 | 4-Traders
Full-screen chart
Technical analysis trends DAIMLER
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 76,2 €
Spread / Average Target 16%
Consensus details
EPS Revisions
More Estimates Revisions
Dieter Zetsche Chairman-Management Board
Manfred Bischoff Chairman-Supervisory Board
Jan Brecht Chief Information Officer
Clemens A. H. Boersig Member-Supervisory Board
Sari Maritta Baldauf Member-Supervisory Board
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DAIMLER-7.45%78 074
TOYOTA MOTOR CORP-15.08%170 252
VOLKSWAGEN-0.82%74 965
HONDA MOTOR CO LTD-10.06%49 885
More Results