Karin Rådström Appointed CEO of Daimler Truck

Daimler Truck Holding AG has appointed Karin Rådström as its new Chief Executive Officer, effective October 1, 2024, succeeding Martin Daum, who will remain on the Board until December 31, 2024, to ensure a smooth transition. Rådström, who joined Daimler Truck in 2021, previously led the Mercedes-Benz Trucks segment and has been recognized for her efforts in enhancing sustainability and profitability within the company. Daum, who has been with Daimler since 1987 and served as CEO since 2017, is credited with navigating significant changes and positioning the company for future challenges, despite recent declines in truck sales. Rådström's appointment marks a notable advancement for female leadership in a major German corporation. The company is currently facing subdued demand in Europe and Asia, prompting plans for reduced working hours and a hiring freeze. Daimler Truck has also revised its earnings guidance for 2024, expecting significantly lower earnings than in 2023.