Mercedes-Benz to merge financial services with vehicle sales division

Core Insights - Mercedes-Benz plans to merge its vehicle sales and financial services into a single entity by the end of the year, with the merger of Mercedes-Benz Mobility AG into Mercedes-Benz AG set for 31 December 2025, pending regulatory approvals [1] - Franz Reiner, chairman of the Mercedes-Benz Mobility board, will leave the company on 31 December 2025, after a long career that began in 1992 [2] - Peter Henn will take over global leadership of the financial services division starting 1 May 2026, while Tolga Oktay will assume interim responsibility during the transition [4][5] - Mercedes-Benz Cars reported a 3% quarter-on-quarter sales decline and a 12% year-on-year decline [5] Company Restructuring - The merger aims to streamline operations by combining vehicle sales and financial services into one entity [1] - Essential functions of the financial services sector will still be managed under the Mercedes-Benz Financial Services unit to comply with regulatory standards [1] Leadership Changes - Franz Reiner's departure is by mutual agreement, marking the end of his over three-decade tenure at the company [2][3] - Harald Wilhelm acknowledged Reiner's contributions to the financial services business and the sustainable growth of the organization [3][4] Financial Performance - The announcement of the merger and leadership changes follows a reported decline in sales for Mercedes-Benz Cars, indicating potential challenges in the market [5]