MAN SE has announced the appointment of Joachim Drees, head of the company’s Truck & Bus division, as new CEO following the resignation of current chief executive, Dr Georg Pachta-Reyhofen.
Effective from 1 October, the departure of Dr Pachta-Reyhofen is considered part of Volkswagen’s push for a reorganisation of its truck making divisions to boost profitability.
Munich-based MAN, which also makes diesel engines and turbines, has not yet commented on resulting strategy changes, with newswire Reuters noting that the restructure has not yet finished.
“In line with VW's plans to boost truck making profits, a new management team and the supervisory board at VW's trucks division will draw up a strategy before the end of 2015 for MAN and Scania,” Reuters said with reference to an unnamed source.
Meanwhile, outgoing executive Pachta-Reyhofen commented, “Following the continued successful development of the MAN Group as an internationally positioned enterprise focusing on transport and energy generation and MAN’s integration into the Volkswagen Group, my most important assignments have meanwhile been completed.
“This has prompted me to place my executive board responsibilities in someone else’s hands.”
“On behalf of the Supervisory Board, I would like to thank Dr Pachta-Reyhofen most sincerely for his many years of commitment and his outstanding work for MAN,” commented Andreas Renschler, Chairman of the Supervisory Board at MAN SE, Board Member for Commercial Vehicles at Volkswagen AG and CEO of Volkswagen Truck & Bus Holding.
“He has successfully managed the company in an increasingly challenging market and competitive environment and continuously played a role in its integration into the Volkswagen Group.”
Dr Pachta-Reyhofen will continue to serve the Volkswagen Group in an advisory capacity.