Daimler Names New Head of Truck Unit

DaimlerChrysler replaced the head of its North American truck unit, tapping a turnaround expert to stem mounting losses at the region’s biggest truck maker.

The German-U.S. auto giant said it accepted the resignation of Jim Hebe, who had led the Freightliner unit since 1992. It named a former Freightliner finance chief, Rainer Schmueckle, to take over immediately. The company described Schmueckle, 41, as a “proven turnaround expert.”

The move suggests that Hebe, 52, is paying the price for growing losses at the truck maker, which has been hit by a sharp slump in demand and prices. Schmueckle was Freightliner’s CFO from 1994-1997 and is a senior vice president of DaimlerChrysler. The auto maker’s American depositary receipts closed off 20 cents at $48.14 on the NYSE.