Hyperdrive
Daimler Goes Bold in Biggest Shake-Up Since Chrysler Sale
- CEO surprises with plan to distribute most of truck unit
- Separation called a ‘watershed moment’ for manufacturer
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Daimler AG’s Ola Kallenius is making a dramatic move to win over investors who have knocked the manufacturer for keeping its luxury-car and commercial-vehicle operations under one roof.
The Mercedes-Benz maker plans to distribute a majority of its Daimler Truck unit to shareholders by year-end, expecting it will quickly qualify for Germany’s benchmark stock index. Its most iconic brand also will become the name of the auto company, a move that underscores the chief executive officer’s desire for a clear separation of the two businesses.