News

Following the signing of definitive agreements in June, Aramco has completed its acquisition of a 10% equity stake in Horse Powertrain. Renault Group and Geely each retain a 45% equity stake. Aramco’s investment is expected to accelerate Horse Powertrain’s efforts to develop next-generation ICE and ...

Do Young Kim, currently CFO for International, has been appointed as the new Chief Financial Officer for Scania Group and a member of the Executive Board, reporting to CEO Christian Levin. He is due to assume the position on 1 February 2025.

Carlos Tavares resigned as Stellantis Chief Executive Officer. An Interim Executive Committee chaired by John Elkann will appoint a new CEO in the first half of 2025

Dana announced the appointment of R. Bruce McDonald as Chairman and Chief Executive Officer, effective immediately. Mr. McDonald’s appointment follows the retirement of James Kamsickas as CEO. Dana also announced its intention to sell the Off-Highway business.

“We achieved strong sales and profitability in the third quarter, led by improvement in our Power Systems and Distribution businesses, and have adjusted our full year projection for EBITDA percentage to be at the top end of the prior range,” said Jennifer Rumsey, Chair and CEO of Cummins.

“Amid significant market challenges this year, we proactively adjusted our business operations to better align with the current environment,” said John May, chairman and CEO of Deere & Company. “Together with the structural improvements made over the past several years, these adjustments enable us t...