At the Annual General Meeting of Daimler AG held in Berlin on Wednesday, the company’s shareholders approved the system of remuneration for the members of the Board of Management. The German Act on the Appropriateness of Management Board Remuneration, which came into effect on August 5, 2009, allows for the Annual Meeting to vote on the system of remuneration for the members of the Board of Management. Due to this new legislation, the Supervisory Board of Daimler AG placed the system of remuneration for the members of the Board of Management on the agenda of the Annual Meeting for the shareholders’ approval. The shareholders voted in favor of the remuneration of the Board of Management for the year 2010 with 95.97% of the votes cast.
Furthermore, the Annual Meeting elected Dr. Paul Achleitner to the Supervisory Board as successor to Arnaud Lagardère, who is leaving this Board. Achleitner, a member of the Board of Management of Allianz SE, is a member of the Daimler Supervisory Board until the end of the 2015 Annual Meeting.
The actions of the members of the Board of Management in 2009 were ratified with 98.32% of the votes cast; the actions of the members of the Supervisory Board were ratified with 98.05%.
The Annual Meeting also authorized the Board of Management to issue convertible bonds and/or bonds with warrants with a total face value of up to €10 billion and to create a new Conditional Capital 2010 of €500 million arising from those convertible bonds and/or bonds with warrants. The previous authorization to issue convertible bonds and/or bonds with warrants had expired on April 5, 2010.
This year’s Annual Meeting at the Berliner Messe exhibition center was attended by approximately 4,700 shareholders (2009: 7,000). 40.28% of the shareholders’ voting rights were represented at the Annual Meeting.
