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Daimler Truck AG preps for ‘an independent future’

April 30, 2021
Daimler Truck AG announced it is making significant changes to its management structure ahead of the spin-off and separate listing planned for late 2021.

In preparation for its spin-off from Daimler AG and its independent listing on the Frankfurt stock exchange planned for late 2021, Daimler Truck AG is announcing the composition of its new Board of Management and a series of management and organizational changes, effective July 1.

To accelerate the pace of technological development and to better serve the needs of its customers in each region, Daimler Truck AG has decided to realign its business structure. This means that the operating units and brands in North America (Freightliner, Western Star, Thomas Built Buses), Europe and Latin America (Mercedes-Benz Trucks), and Asia (FUSO and BharatBenz), will be given more entrepreneurial independence, the company stated.

Going forward, decision-making authority and product development resources will be organized alongside the respective Daimler Truck brands in the regions. This will include the chief engineer functions for the entire vehicle development, previously structurally anchored in the central development of Daimler Trucks & Buses, being assigned to the corresponding regions.

Considering carbon-neutral transport initiatives, Daimler Truck AG has focused on developing battery-powered trucks in the light, medium and heavy segments, a hydrogen truck for long-distance travel Mercedes-Benz GenH2, or the autonomous Future Truck 2025.

Given the increased speed towards CO2-neutral transportation and the accelerating development of software and connectivity, Daimler Truck AG is creating a new Truck Technology (TT) Group, central unit for powertrain, vehicle software, electrics/electronics, and global purchasing. Andreas Gorbach, currently CEO of the fuel cell joint venture cellcentric with Volvo Group, will join the Daimler Truck AG board to lead the TT Group.

"The new business structure gives Daimler Trucks & Buses the best of both worlds: Maximum customer proximity and entrepreneurship in our regions and maximum, focused engineering power for future technologies," said Martin Daum, CEO of Daimler Truck AG.

“Dr. Andreas Gorbach is a proven leader with broad experience in both conventional and zero-emission powertrains,” Daum continued. “He is the perfect match for the new Truck Technology Group Board of Management position. Andreas Gorbach is currently CEO of the fuel cell joint venture cellcentric with the Volvo Group and has largely contributed to Daimler Truck AG's success in making hydrogen drive systems ready for series production.”

Sven Ennerst, previously responsible for Development, Purchasing and Region China, will pursue as General Representative China until the end of the year. Dr. Frank Reintjes, previously responsible for the Global Powertrain division, will accompany the realignment of Daimler Truck AG as a senior executive advisor to the CEO until the end of the year. Both executives will retire at the end of the year.

Financial services

A new subsidiary of Daimler Truck AG for the financial services unit for the truck and bus business will provide targeted support for the truck and bus manufacturer with tailor-made financing, leasing and mobility solutions. Colleagues of the future Daimler Truck Financial Services organization will transfer from Daimler Mobility AG to the new company ahead of the planned spin-off and listing and become part of the worldwide Daimler Truck family, the company noted. The management of this new in-house financial services unit will be taken over by Stephan Unger.

Unger is currently responsible for finance and controlling, risk management and digital mobility solutions on the Board of Management of Daimler Mobility AG. His career has taken him through various management positions in Finance & Controlling, including at Mitsubishi Motors Corporation in Japan, which was then part of DaimlerChrysler AG, and Mercedes-AMG GmbH. In 2020, Unger additionally took over responsibility for controlling the investments in digital mobility services.

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