The Global Product Management position is a new role, created in order to foster strategic and operational cohesion between the group’s four subsidiaries, while the role of Finance and Human Resources combines two board positions which were previously separate.

The company announced the appointment of Barbaros Oktay to the new role of Head of Bus, replacing Rudi Kuchta in the leadership role of MAN’s bus division.

This new division is the working combination of two formerly independent companies, V.S.E. Vehicle Systems Engineering B.V. (VSE) of Veenendaal, near Utrecht, Netherlands and Hemscheidt Fahrwerktechnik GmbH & Co. KG of Haan, Germany.

‘Phillips Innovations’ will have two focuses: sustainable energy technologies, such as solar power and electrification products; and patented camera and other visual perception devices.

Paletar announced she has removed the position of CEO and reshuffled the management following her acquisition of all the company shares.

From May 2023, ContiTech will be divided into three regional business areas: Industrial Solutions Americas, Industrial Solutions APAC (Asia & Pacific) and Industrial Solutions EMEA (Europe & Middle East).

The automotive components supplier was acquired by private equity firm Apollo on 17 November for approximately USD7.1bn in cash.

Hino plans to establish a Transformation Management Office and appoint a Chief Transformation Officer to “conscientiously and efficiently implement company-wide initiatives including the current reform programme.”

The anti-vibration and air spring specialist said the new brand name better captures all of its business channels including automotive, heavy-duty commercial and off-highway.

The purpose of the new structure is to centralize operations and improve processes for approximately 350 customers served in the country.

In terms of the transaction details, BorgWarner shareholders would own shares of both companies, with its completion set for late 2023, pending regulatory approval.

Scania has divided its Industrial Operations unit into two: Production & Logistics, headed by Holm, and Research & Development and Purchasing, headed by Anders Williamsson.