VW truck subsidiary Traton with new boss and CFO

Traton

In the summer of 2020, Traton Knall parted ways with Andreas Renschler, who listed the company on the stock exchange in 2019.

(Photo: Reuters)

Munich The Volkswagen commercial vehicle holding Traton gets a new boss. The CEO Matthias Gründler, who took over the position of the then Traton boss Andreas Renschler in mid-2020, and the Supervisory Board had mutually agreed on Gründler’s departure from the Management Board on September 30, the company announced on Wednesday evening.

Christian Levin will be the successor at the top of the company. Up until now, he was in charge of the Swedish truck manufacturer Scania. Levin should run both VW daughters at the same time from October.

He is a strong manager who will implement the next chapter of the group, said supervisory board chairman Hans Dieter Pötsch. “He has my full support in shaping the path to greater profitability and growth.” In the summer of 2020, Traton Knall parted ways with Renschler, who had floated the company on the stock exchange in 2019. At that time, Traton brought Gründler back, who had been chief financial officer there until 2018.

The previous CFO Christian Schulz will also leave on September 30th, as Traton announced. Annette Danielski, who has been Head of Group Finance at Traton since October 2018, will take over his position.

Top jobs of the day

Find the best jobs now and
be notified by email.

There had already been speculation in the media about Schulz’s departure. Schulz sees himself slowed down by the intervention of VW, it said in the report of “Manager Magazin”. Schulz played a key role in organizing the IPO.

“Lead Traton into a sustainable future”

Traton is listed on the stock exchange, but is majority owned by the Volkswagen Group, which has bundled truck brands such as Scania, MAN and the US manufacturer Navistar under the umbrella of the Munich-based company. Under Gründler, Traton agreed last year to take over Navistar, a competitor of the Daimler subsidiary Freightliner.

Gründler now stated that the strategy of a “global champion” had been implemented faster than expected. “Now it’s about leading Traton into a sustainable future beyond conventional business models and ways of thinking.”

The future Traton boss Levin announced that he would present a comprehensive plan by the end of the year, including the trend towards electric vehicles, the integration of Navistar and further investments in China.

In addition, more money should be saved through modularization. The VW Group is also pursuing this strategy for passenger cars. The new CFO Danielski also stated that one of her first tasks would be the complete integration of Navistar.

The ailing subsidiary MAN is likely to remain a construction site for the managers: The company is to be repositioned for the construction of electric vehicles. 3500 jobs are to be cut in Germany.

More: VW truck subsidiary Traton feels a lack of chips

.
source site