- Generational transition at the top of the company
- Karin Rådström will assume new role as Chairman of the Board of Management of Daimler Truck Holding AG as of October 1, 2024
- Supervisory Board thanks Martin Daum for his efforts and his lifetime achievements
The Supervisory Board of Daimler Truck Holding AG has appointed Karin Rådström as the new Chief Executive Officer of the company effective October 1, 2024, and she is appointed in this function until January 31, 2029. She will succeed Martin Daum who will simultaneously resign as CEO paving the way for the next chapter of the company’s transformation. Martin Daum will remain as full member of the Board of Management until December 31, 2024, to support a smooth handover.
The Chairman of the Supervisory Board of Daimler Truck Holding AG, Joe Kaeser, thanks Martin Daum for his outstanding achievements and commitment in his nearly four decades long career at Daimler. “Personally, and on behalf of the entire Supervisory Board, I would like to thank Martin Daum for his commitment and outstanding results. He has been leading Daimler Truck’s transition from a conglomerate division into a successful DAX-listed company in a convincing manner. Thus, he led it through one of its most eventful times in recent history and has been the key architect of Daimler Truck’s economic success and international reputation. His dedication to the company, its customers and employees is remarkable. He is a ‘trucker’ with heart and soul. Martin Daum hands over a successful company which is well prepared for the challenges ahead.”
Starting his career at Daimler-Benz AG in 1987, Martin Daum has been instrumental in shaping Daimler Truck’s global success. As CEO of Daimler Trucks North America, he played a key role in growing the local business. Today, the segment North America is one of Daimler Truck’s powerhouses. Since assuming the role as member of the Board of Management of the former Daimler AG for Trucks and Buses in 2017, Martin Daum and his leadership team have significantly increased revenues while strongly enhancing margins, thereby providing greater flexibility for future investments. Under his leadership, Daimler Truck has spearheaded the technological transformation with both battery electric and hydrogen-based drivetrains.
His successor, Karin Rådström, joined Daimler Truck’s Board of Management in 2021 and since then has been responsible for Mercedes-Benz Trucks. Within a short period of time, the trained engineer has successfully reshaped the segment profitability and advanced its transformation towards sustainability. With foresight and entrepreneurial spirit, she has introduced a range of new battery electric trucks while driving customer focus together with her team, leading to an enhanced service offering and an increased customer satisfaction. Before joining Daimler Truck, she oversaw Sales & Marketing as a member of the Executive Board at Scania. At her former employer, she previously also held the position of Senior Vice President, Head of Buses & Coaches.
Joe Kaeser, Chairman of the Supervisory Board: “We are delighted to win Karin Rådström with her outstanding industry knowledge and leadership skills as the new CEO of Daimler Truck Holding AG. She has proven that she is able to successfully advance the transformation of a brand while navigating a challenging external environment. As a true leader, Karin Rådström has been instrumental in establishing a new performance culture and fostering empowerment, diversity and customer focus. These principles are essential for Daimler Truck to master the transformation of mobility successfully and be our customers’ first choice. We wish her and her team great success and we are very much looking forward to continuing our collaboration.”
Michael Brecht, Vice Chairman of the Supervisory Board of Daimler Truck Holding AG and Chairman of the General Works Council: “As labor representatives we have worked well and trustful with Karin Radström in the recent years. It is important to us that Daimler Truck under her leadership remains a successful and future-proof company. Thereby, the interests of employees and shareholders must be taken into account equally. This is a prerequisite for secure and good jobs. Our explicit thanks and greatest respect go to Martin Daum, who has successfully positioned Daimler Truck globally with great care. He has achieved outstanding accomplishments, led Daimler Truck to independence and always listened to the interests of the workforce.”
For the time being, Karin Rådström will remain responsible for Mercedes-Benz Trucks until her succession will be decided.
The decisions of the Supervisory Board described above apply to Daimler Truck Holding AG and to the same extent to Daimler Truck AG.
