Founder Mujeeb Ijaz steps down from his role as CEO to serve instead as Vice-Chairman of the board and Chief Technology Officer.

Schaeffler stated that the combination with Vitesco could realise earnings before interest and taxes (EBIT) of EUR600m per year before the end of the decade, through improved “revenue and cost synergies” achieved by combining their respective product portfolios.

Adams will remain with the company for a further six months as an advisor.

The company has announced plans to replace its current Chief Financial Officer (CFO), Kevin Nowlan, who is retiring at the end of February, with Craig Aaron, BorgWarner’s current Vice President and Controller.

Sallet, who has been with the company for 35 years, will be responsible for BAE’s financial operations and will report directly to the President and CEO, Tom Arseneault.

The company has appointed Stephen Weiland as the new Chief Financial Officer (CFO), taking over from interim CFO, Jiajia Wu, who is to transition to the role of Senior Vice President of Finance and Accounting.

The company has appointed Christian Wilz as the new head of Mercedes-Benz Trucks in Germany, taking over from Joachim Schlereth who is retiring at the end of the year. Wilz’s responsibilities will be for sales and service of Mercedes-Benz and Fuso brand trucks in Germany.

Giorgio Zino is set to lead commercial operations in Europe, Danilo Fetzner in Latin America, Gauthier Ricord in Africa and the Middle East and Marco Franza in the Asia Pacific. Stéphane Espinasse has been appointed to lead Sales and Market Development of global operations.

Luca de Meo recently unveiled a roadmap for developing a competitive European green mobility ecosystem, co-signed by the heads of Europe’s largest commercial vehicle OEMs. The roadmap, submitted to the EU Parliament and Commission is premised on three pillars of supply, production and demand, encompassing views of all relevant industry stakeholders.

Ross takes over the role of President from Lee C Banks, who will retire at the end of 2023 after 32 years at the company.

Irizar Southern Africa appointed Danie Human as the new General Manager, effective immediately.

Patrick Farbrace will succeed Gareth Lumsdaine as the new Truck Business Line Director of Iveco UK, effective immediately.