Mercedes Replaces Technology Chief, Promotes CEO Ally

Mercedes-Benz Group AG has announced the replacement of its chief technology officer, Markus Schäfer, as the company prepares for further cost-cutting measures. The move comes as Mercedes-Benz aims to streamline its operations and adapt to the changing automotive landscape. Schäfer, who has held the position since 2020, will be succeeded by Jochen Hermann, a close ally of Mercedes-Benz CEO Ola Källenius. Hermann currently serves as the head of development for Mercedes-Benz's electric vehicles. The shake-up in the company's top leadership is seen as a strategic move to align the technology division with the broader business objectives set by Källenius. The new CTO is expected to play a crucial role in the company's ongoing efforts to reduce costs and enhance its competitiveness in the electric vehicle market. The article suggests that the change in the technology leadership is part of a broader restructuring initiative at Mercedes-Benz, as the company navigates the challenges and opportunities presented by the evolving automotive industry.