Daimler Truck Holding AG has appointed Karin Radstrom as the company’s new chief executive officer (CEO), effective Oct.1. Radstrom, who will hold the position until Jan. 31, 2029, succeeds Martin Daum, who will resign as CEO next month. Daum, however, will remain a member of the board of management until the end of 2024 to ensure a smooth transition, Daimler said.

“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,” said Joe Kaeser, chairman of the supervisory board of Daimler Truck Holding AG, in a news release. “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.”

Generational transition at the top of the company

Radstrom, who joined Daimler Truck’s management board in 2021, has been responsible for Mercedes-Benz Trucks. According to a news release, she successfully improved the segment’s profitability and introduced a range of battery-electric trucks in a short time. Before joining Daimler, Radstrom held senior leadership positions at Scania, including senior vice-president and head of buses and coaches.

“We are excited to have Karin Radstrom as our new CEO,” Kaeser added. “Her industry expertise and leadership will be key in advancing Daimler Truck’s transformation.”

For now, Radstrom will continue her responsibilities with Mercedes-Benz Trucks until her successor is appointed.

In a joint statement, Radstrom and Daum said that while a new CEO will undoubtedly mean change, there will also be continuity.

“Both of us are passionate about the technological transformation our industry is going through. We see it as a huge opportunity to change things for the better. To the benefit of the environment, society and our customers,” the statement reads. “We are convinced that our company is uniquely positioned to lead sustainable transportation, and that we can all be excited about our company’s role going forward. We will decarbonize transportation.”