A new member will be appointed to the Supervisory Board of Mercedes-Benz Group AG: Sari Baldauf (67) is stepping down from the board after 15 years at the conclusion of the annual general meeting of Mercedes-Benz Group AG on May 3, 2023. Stefan Pierer (66) will be proposed as her successor at the annual general meeting.
“The Supervisory Board of Mercedes-Benz Group AG has a wide range of international expertise and experience. Stefan Pierer is a strong addition to the board, especially due to his in-depth industry know-how and his expertise in product and brand development. He is also a forward-thinking founder and entrepreneur who brings a deep understanding of how to successfully transform companies."
Bernd Pischetsrieder, Chairman of the Supervisory Board of Mercedes-Benz Group AG
Stefan Pierer, born in Austria in 1956, studied business and energy management at the Montanuniversität Leoben (Austria) and graduated with a degree in engineering in 1982. After holding various positions with the heating and ventilation manufacturer, Hoval, he founded his first investment company in 1987. Since 2011, the main company holdings have been bundled into Pierer Industrie AG, with Stefan Pierer serving as CEO and sole shareholder. In 2022, the industrial group recorded annual sales of around 3.5 billion euros and employed around 11,000 people. Companies that belong to Pierer Industrie AG include the Pankl AG Group and the PIERER Mobility Group, the latter of which includes world-renowned motorbike brands such as KTM, and HUSQVARNA Motorcycles.
After 15 years, Sari Baldauf is leaving the Supervisory Board of Mercedes-Benz Group AG. She graduated with a Bachelor of Science degree in 1977 and a Master of Science degree in Business Administration from the Helsinki School of Economics and Business Administration in 1979. She also holds honorary doctorates from Aalto University and the Turku School of Economics and Business Administration. After graduation, Sari Baldauf held various management positions at Nokia. From 1994 to January 2005, she served on the Executive Board of Nokia Corporation. Since 2020, Sari Baldauf has been Chair of the Board of Directors of Nokia Oyj.
"With Sari Baldauf, an extremely valued colleague is leaving us. Over the past 15 years, she has played a significant role in shaping the work of the Board with her broad entrepreneurial knowledge and extensive international experience. On behalf of the entire Supervisory Board, I would like to thank her wholeheartedly for her outstanding commitment and dedication. We want to wish her continued success and all the very best for the future."
Bernd Pischetsrieder, Chairman of the Supervisory Board of Mercedes-Benz Group AG
