Daimler AG accelerated a management transition, naming Group Research and Mercedes-Benz Cars Development head Ola Kaellenius to replace chief executive officer Dieter Zetsche two years ahead of schedule as the German automaker confronts jarring changes ahead in the automotive industry.
Kaellenius, the first non-German to take the helm of Daimler, is to become chief executive officer next year, Daimler said in a statement yesterday.
The 49-year-old Swede had been the heir apparent to long-serving Zetsche, who has come under pressure from regulators over diesel emissions.
Photo: EPA
“In Ola Kaellenius, we are appointing a recognized, internationally experienced and successful Daimler executive,” said chairman Manfred Bischoff, who is to be replaced by Zetsche in 2021 following a two-year cooling-off period. “Dieter Zetsche has played a key role in shaping Daimler and has ensured its strategically outstanding positioning for the mobility of the future.”
The transition at the top comes at a critical time for the world’s biggest luxury carmaker and commercial vehicle producer. Daimler in June was first among auto producers to cut annual targets, faced with unpredictable fallout from trade tensions and pricing pressures on top of unprecedented spending on electric vehicles.
The maker of Mercedes-Benz cars, after taking the luxury sales lead from BMW in 2016, has also come under scrutiny over its diesel engine setups to meet emissions regulations, sparking investigations in the US and Germany.
Kaellenius “seems like a logical solution” after successfully holding key management positions, said Sven Diermeier, a Frankfurt analyst at Independent Research GmbH.
With Kaellenius, Daimler is naming a long-serving employee who has risen through the ranks to the top job. He previously headed sales for the core Mercedes-Benz cars division and led its AMG performance cars unit.
His appointment as research and development chief at the end of 2016 put him ahead in the race to replace Zetsche, prompting then-Daimler trucks and buses head Wolfgang Bernhard to leave.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
STABLE RESULTS: Despite June’s lower consolidated revenue, second-quarter sales still reached a record high, driven by demand for chips for AI applications Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday reported consolidated sales of NT$263.71 billion (US$9.02 billion) for last month, its second-lowest monthly result this year. The world’s largest contract chipmaker said in a statement that its revenue last month only fared better than the NT$260.01 billion posted in February. Last month’s figure rose 26.9 percent from a year earlier, but slumped 17.7 percent from May, the company said. However, second-quarter revenue reached NT$933.8 billion, a record high for a single quarter, company data showed. The figure represented growth of 11.26 percent from the first quarter and 38.6 percent from a year earlier. Previously, TSMC said that
RSS