On December 11, Mainland Group issued a statement saying that the chairman of the Supervisory Board has agreed to the 52 -year -old Olaf Schick in advance to resign from the position of the chief financial officer and the requests of the members of the Integrity and Law Executive Committee, and the request will start from September 30 next year. Effective. The Mainland Group Supervisory Board is expected to formally approve the request at the meeting on December 18 this year and will timely decide the successor of Olaf Schick.
At the same time, Mercedes-Benz will hire Olaf Schick to join the Management Committee of Mercedes-Benz in October next year to be responsible for integrity, governance and sustainable development.
Wolfgang Reitzle, the chairman of the mainland group supervisory board, said: “Olaf Schick will still fully promote the preparations for the business splitting and listing plan of the car group before leaving office on September 30 next year. Approval of the Supervisory Board of Mainland Group and the annual shareholders’ meeting.
Nikolai Setzer, CEO and Chairman of the Director of the Mainland Group, said: “We are sad for Olaf Schick’s decision to resign early in advance. At the same time, he continues to enjoy the full trust of all the board members of the mainland group and the entire organization. Make the mainland group successfully transform and increase value.
Olaf Schick said: “The business split of the car group business and the preparation of the successful transformation of the mainland group is a breakthrough challenge. Before I stepped down, I will continue to be passionate and unswervingly committed to these undertakings.”
In 1972, Olaf Schick was born in Tübingen, Germany. Before 2015, he served as the laws, mergers and acquisitions and finance of Mercedes-Benz Group. He also served as a lawyer. From 2015 to 2017, he was the chief financial officer of the Russian region of Mercedes-Benz Group. From 2017 to 2020, Olaf Schick was the chief compliance officer of Daimler (formerly known as Mercedes-Benz Group). Olaf Schick began as chief financial officer of Mercedes-Benz Group China in July 2020. He started as a member of the Honesty and Legal Executive Committee of the Mainland Group since May last year, and has been the chief financial officer of the Mainland Group on July 1 this year.
According to Bloomberg, the BMW Group and Mercedes-Benz Group are reorganizing the leadership team because they are facing the increasingly fierce competition with Chinese opponents and the weak challenges of European electric vehicles.
On December 11, Mercedes-Benz said that Oliver Thöne, the product strategic director, will replace Hubertus Troska, president of China, who will retire in July next year.
On December 10, the BMW Group said that the former chief financial officer Nicolas Peter will take over Norbert Reithofer as the chairman of the BMW Group’s Supervisory Board next year.
The changes in management reflect the comprehensive challenges faced by the German automotive industry: the sales of the key Chinese automobile market are weak and the recovery of the European automobile market is slow. In addition, after the next President Donald Trump returned to the White House, Germany’s most important automobile industry may also face the risk of high tariffs.