New CEO for MAN Truck & Bus AG

MAN Truck & Bus AG's Supervisory Board has appointed a new CEO, with Joachim Drees (pictured) assuming the role on April 1, 2015, from out-going head Anders Nielsen.

Mr Nielsen will move into the role of Business development for the commercial vehicles division at Volkswagen AG, MAN's parent company.

Like Andreas Renschler, who recently became a member of the Board of Management for the commercial vehicles arm of Volkswagen AG, Drees brings commercial vehicle expertise to the role from Daimler Trucks, and further strengthens the MAN executive team as Volkswagen explores the synergies and greater efficiencies associated with recently taking full control of Scania.

Meanwhile the Supervisory Board has opted to extend the contract of Heinz Jürgen Löw, Director of Sales and Marketing at MAN Truck & Bus, until 2021.

Most recently Mr Drees, 50, was the Chief Financial Officer of Drees & Sommer AG, in Germany; he has also been a partner in a British investment company and a manager at Daimler Trucks and Mercedes-Benz Trucks.

Rupert Stadler, Chairman of the Supervisory Board, praised the work of out-going CEO, Anders Nielsen.

"The Supervisory Board thanks Anders Nielsen for his excellent work at MAN," he said.

"He can now incorporate his years of expertise in the commercial vehicles industry in his new overarching areas of responsibility. The Supervisory Board wishes him all the best of success."