February 17, 2023
Mercedes-Benz adds a seasoned industry expert to its supervisory board to strengthen it.
The Supervisory Board of Mercedes-Benz Group AG will add a new member: After serving on the board for 15 years, Sari Baldauf (67) will retire from it on May 3, 2023, following the end of Mercedes-Benz Group AG’s annual general meeting. At the annual general meeting, Stefan Pierer (66), her successor, will be proposed.
“The Supervisory Board of Mercedes-Benz Group AG has extensive knowledge and experience on the international stage. Stefan Pierer is a valuable addition to the board, especially given his in-depth knowledge of the business and his proficiency in the development of products and brands. In addition, he is a founder and businessman with a keen understanding of how to successfully alter organisations.
Chairman of the Supervisory Board of Mercedes-Benz Group AG, Bernd Pischetsrieder
Austrian-born Stefan Pierer, who was born in 1956, studied business and energy management there before earning an engineering degree there in 1982. He started his first investing company in 1987 after holding several jobs with the heating and ventilation producer Hoval. Since 2011, Stefan Pierer has served as CEO and the sole stakeholder of Pierer Industrie AG, which includes the majority of the firm interests. The industrial firm had yearly sales of approximately 3.5 billion euros in 2022 and employed close to 11,000 people. The Pankl AG Group and the PIERER Mobility Group, which comprises well-known motorcycle brands like KTM and HUSQVARNA Bikes, are among the businesses that make up Pierer Industrie AG.
Sari Baldauf is stepping down from the Supervisory Board of Mercedes-Benz Group AG after 15 years. At the Helsinki School of Economics and Business Administration, she earned a Bachelor of Science in 1977 and a Master of Science in Business Administration in 1979. She also has honorary doctorates from the Turku School of Economics and Business Administration and Aalto University. Sari Baldauf held a number of executive jobs at Nokia following her graduation. She was on the Nokia Corporation’s Executive Board from 1994 to January 2005. Nokia Oyj’s Board of Directors has been presided over by Sari Baldauf since 2020.
“With Sari Baldauf, we are losing a really important employee. With her broad entrepreneurial knowledge and vast international experience over the past 15 years, she has significantly shaped the Board’s work. I want to express my sincere gratitude to her on behalf of the entire Supervisory Board for her exceptional commitment and dedication. She has our warmest wishes for future success and sustained success.
Chairman of the Supervisory Board of Mercedes-Benz Group AG, Bernd Pischetsrieder
July 25, 2022
