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

4-Traders Homepage  >  Equities  >  Xetra  >  Daimler AG    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 CET

• 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 AG
11:35a DAIMLER : Mercedes-Benz Concept X-CLASS – Outlook on the new pickup bearin..
11:35a DAIMLER : Marco Polo HORIZON – new compact recreational vehicle bearing th..
09:20a AN INVITATION TO THE MERCEDES-BENZ M : What do Benin, Botswana, Guyana, Papua Ne..
09:05a DEBUT OF MERCEDES-BENZ LE 306 ELECTR : Electric future in 1972
02/27 CUSTOMER RACING : Changes in the Mercedes-AMG customer sports programme
02/25 DAIMLER : Valmet Automotive awarded best partner for Mercedes-Benz Cars
02/24 DAIMLER : Mercedes-Benz and Porsche recalls cars in S. Korea
02/24 TOP PERFORMANCE IN FOCUS : Daimler AG distinguishes ten suppliers with the Suppl..
02/24 AFTER ANOTHER RECORD YEAR : Mercedes-Benz Vans to invest more than two billion e..
02/24 DAIMLER : Merc hopeful of double-digit sales, lines up launches
More news
Sector news : Auto & Truck Manufacturers - NEC
08:48aDJTakata Pleads Guilty in Air-Bag Case -- WSJ
01:36a Self-driving Nissan car takes to Europe's streets for first time
02/27 BAYERISCHE MOTOREN WERKE : Brexit could count against UK as base for electric Mi..
02/24 VOLKSWAGEN : CEO says board did not discuss chiefs of VW brand, Audi
02/24DJVolkswagen Supervisory Board Agrees to Cap Management Board Compensation
More sector news : Auto & Truck Manufacturers - NEC
News from SeekingAlpha
02/27 U.S. auto sales seen falling 3% in February
02/27 Allison Transmission downgraded to Neutral at Goldman
02/24 2 Pairs Trades You Can Take To The Bank
02/22 WALL STREET BREAKFAST : Fed Minutes In Focus
02/22 Daimler to start car production in Russia
Financials (€)
Sales 2017 157 161 M
EBIT 2017 13 803 M
Net income 2017 9 139 M
Debt 2017 8 672 M
Yield 2017 4,96%
P/E ratio 2017 8,08
P/E ratio 2018 8,09
EV / Sales 2017 0,52x
EV / Sales 2018 0,54x
Capitalization 73 538 M
More Financials
Duration : Period :
Daimler AG Technical Analysis Chart | DAI | DE0007100000 | 4-Traders
Full-screen chart
Technical analysis trends DAIMLER AG
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 75,7 €
Spread / Average Target 10%
Consensus details
EPS Revisions
More Estimates Revisions
Dieter Zetsche Chairman-Management Board & CEO
Manfred Bischoff Chairman-Supervisory Board
Jan Brecht Chief Information Officer
Ola Kaellenius Head-Group Research & Member-Management Board
Clemens A. H. Boersig Member-Supervisory Board
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
DAIMLER AG-2.80%77 930
TOYOTA MOTOR CORP-6.85%185 951
VOLKSWAGEN AG4.99%75 749
More Results