German truck manufacturer MAN CEO abruptly resigns

According to foreign reports, the Swedish Hakan Samuelsson suddenly resigned from the post of CEO of the German truck manufacturer MAN on Monday, making this 250-year-old company likely to face the destiny.

MAN claims Samuelsson's own application for resignation and it will take effect immediately. Fox Autos holds a majority stake in MAN.

This may allow Volkswagen to more actively integrate its three commercial vehicle brands. Ferdinand Piech, chairman of Volkswagen, said in mid-September that the truck industry crisis has prompted the company to move faster.

"Samuelsson hopes that his move will help MAN quickly put all its energy into its core business and future development," MAN said in a statement. "He is convinced that the company's top level should have a fresh start."

A Volkswagen spokesman declined to comment.

Since Samuelsson became CEO in January 2005, he has made bold changes and reforms and has made MAN a new look. During the period, the company's stock price more than doubled, easily exceeding the 36% gain of the German index DAX index over the same period.

The steering committee of the MAN appointed Georg Pachta-Reyhofen, head of the engine business of the company's diesel [review image forum] as the transition chief executive.