Daimler Truck CFO Jochen Goetz Passes Away in Tragic Accident

Daimler Truck has announced the devastating news that their Chief Financial Officer, Jochen Goetz, has died unexpectedly in a tragic accident at the age of 52. Goetz was a pivotal leader at the company.

CFO of Daimler Truck Jochen Goetz died in a tragic car accident (AFP)

Overview of Jochen Goetz's Career and Accomplishments

Jochen Goetz was a dedicated Daimler employee for over 36 years. He worked his way up to become CFO of Daimler Truck in 2021.

Key Facts About Jochen Goetz

  • 36+ years at Daimler group companies
  • Became CFO of Daimler Truck in July 2021
  • 52 years old at time of passing
  • Oversaw successful spin-off of Daimler Truck
  • Leaves behind wife and two children

Goetz was the driving force behind spinning off Daimler Truck as an independent company in late 2021. This created enormous value for shareholders.

Under his financial leadership, Daimler Truck recently achieved record adjusted operating profit margins exceeding 10%. This was accomplished despite challenging economic conditions.

Reactions From Daimler Truck Leadership

Daimler Truck executives praised Goetz as both a consummate professional and positive presence at the company.

CEO Martin Daum's Remarks

CEO Martin Daum highlighted Goetz's instrumental role:

"He played a key role in shaping today's Daimler Truck company and, as CFO, consistently worked to ensure that the company is now more economically successful than ever before."

Chairman Joe Kaeser's Comments

Supervisory board chairman Joe Kaeser remarked:

"Just a few days ago, he convincingly and confidently presented the successful financial development of 'his company' to the supervisory board."

These remarks underscore the immense contributions Goetz made to Daimler's commercial vehicles business in recent years.

Jochen Goetz's Personal Background

While an undeniably sharp financial mind, Goetz was also known for his amiable personality.

  • Born in 1970 in Radolfzell, Germany
  • Studied business administration in Augsburg
  • Daimler employee since 1986
  • Rose through ranks of finance department

Goetz was distinguished by his warm, approachable management style. This made him well-liked throughout the organization.

Tragically, Goetz was only 52 years old at the time of the accident that took his life. He leaves behind a wife and two children.

Goetz's Pivotal Role in Spinning Off Daimler Truck

One of Goetz's crowning career achievements was strategizing and executing the spin-off of Daimler Truck in December 2021.

Why Spin Off the Truck Division?

  • Allow each business to focus resources
  • Increase transparency
  • Unlock shareholder value

By separating the more profitable trucks division, Goetz helped Daimler maximize value for shareholders.

Smoothly Executed Separation

  • Goetz was a key architect of the separation
  • Led financial planning and preparation
  • Oversaw listing of Daimler Truck on Frankfurt Stock Exchange

The spin-off process went smoothly under Goetz's financial stewardship and leadership.

Financial Health and Performance Under Goetz

In his CFO role, Goetz ensured Daimler Truck maintained strong financial discipline and performance.

Key Financial Metrics

  • Consistent double-digit return on sales
  • Strong positive free cash flow
  • Maintained investment grade credit rating

Limiting Impact of Challenging Conditions

  • Navigated semiconductor shortages
  • Managed costs amid high inflation
  • Prevented major financial impacts

Goetz's oversight helped keep Daimler Truck's finances healthy despite difficult macroeconomic conditions.

Conclusion

The unexpected passing of Jochen Goetz is a tremendous loss for Daimler Truck. He was a driving force in shaping the now independent commercial vehicles company. Goetz's financial acumen and leadership will be greatly missed.

5 Key Facts About Jochen Goetz

  1. Served as CFO of Daimler Truck Holding since July 2021
  2. 36+ year veteran of Daimler companies
  3. Oversaw successful spin-off of Daimler Truck
  4. Helped achieve record profit margins over 10%
  5. Passed away at 52 years old in a tragic accident

FAQs

What was Jochen Goetz's position at Daimler Truck?

Jochen Goetz was appointed Chief Financial Officer of Daimler Truck Holding in July 2021.

How long did he work for Daimler?

Goetz worked for various Daimler group companies for over 36 years dating back to 1986.

What was Goetz's largest accomplishment?

Goetz was widely praised for strategizing and leading the spin-off of Daimler Truck into an independent, publicly traded company in late 2021.

How old was Goetz at the time of his passing?

Jochen Goetz was 52 years old when he sadly passed away in an unexpected tragic accident.

Who is succeeding Goetz as CFO?

Daimler Truck has not yet announced who will succeed Jochen Goetz as the company's next Chief Financial Officer.

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