DaimlerChrysler AG CFO Manfred Gentz said he expects to have a turnaround plan in place for the company’s Freightliner heavy trucks unit within the last few months of this year, according to a report byBloomberg.
Freightliner spokesman Chris Brandt said that newly appointed CEO Rainer Schmückle will be leading an assessment team that will examine every aspect of the company to decide how to turn slumping profits around. Brandt said Schmückle will be making assessments of the Portland, OR-based truckmaker over the next three to four months.
“What he decides for the future of Freightliner should benefit our customers and make our operations more competitive,” Brandt told Fleet Owner.
According to Gentz, Freightliner is one of the company's “most difficult holdings at the moment.”
DaimlerChrysler has identified slumping sales at Freightliner as the primary cause of overall financial difficulties in its commercial vehicles group. The parent company accepted the resignation of CEO Jim Hebe last month and replaced him with Schmückle, Freightliner’s former CFO.