Supervisory Board of the week: Tim Höttges (Daimler)

Tim Höttges

Daimler Supervisory Board Chairman Manfred Bischoff has found a well-known successor for the outgoing Paul Achleitner: At the Annual Meeting, shareholders are to elect Telekom CEO Tim Höttges to the supervisory body. For the 57-year-old, this would be “the first relevant position on a German supervisory board,” the Handelsblatt commented. Tim Höttges is “a proven expert for digitalization in telecommunications”, Bischoff praised according to a statement by the company. He thus fits “perfectly into the Supervisory Board of Daimler AG”.

Achleitner refers to new governance practices

However, the election will not take place on 1 April as originally planned: Daimler has postponed the Annual Meeting “to a later date in 2020” due to the corona infection wave. Discussions are now underway at the beginning of July.

After ten years, Paul Achleitner had decided not to run again. “The understanding of appropriate time limits for committee membership has changed considerably in recent times,” the Chairman of the Supervisory Board of Deutsche Bank explained his decision. Other members of the Daimler supervisory board include former Nokia manager Sari Baldauf, Siemens boss Joe Kaeser and BASF chief controller Juergen Hambrecht. Bischoff is expected to resign next year.