Stuttgart (Business Emerge), September 6: Daimler Truck is preparing for a downturn in the commercial vehicle market, with incoming CEO Karin Radstrom expected to steer the company through a period of reduced demand. Joe Kaeser, Chairman of the German truck manufacturer, emphasized the need for the company to adapt to market changes, calling for strategic action to improve profitability.
Radstrom, currently head of the Mercedes-Benz lorry division, will officially assume her role as CEO on October 1. Her appointment comes after Daimler Truck lowered its revenue expectations and cut working hours at its German facilities due to weaker demand across Europe and Asia.
Kaeser highlighted that Daimler Truck’s profitability currently lags behind its competitors, an issue that must be addressed over the medium to long term. However, he did not specify the exact steps Radstrom will need to take to boost the company’s financial performance.
Martin Daum, the outgoing CEO, will retire as planned but will remain on the management board until the end of the year, ensuring a smooth transition of leadership.