Daimler India Commercial Vehicles (DICV) Appoints Rajiv Chaturvedi as President & Chief Business Officer Amid Market Challenges!

Daimler India Commercial Vehicles (DICV) has appointed Rajiv Chaturvedi as its new President and Chief Business Officer (CBO). This leadership change comes at a pivotal time for the company, as it seeks to strengthen its position in India’s competitive and rapidly evolving commercial vehicle market.

Chaturvedi, who brings a wealth of experience from his previous roles at Hyundai Construction Equipment India and Tata Hitachi, will now spearhead DICV’s growth strategy, ensuring the company remains competitive and aligned with Daimler’s global goals. His leadership is expected to play a crucial role in navigating the current challenges facing DICV, including slower market growth and increased competition.

Rajiv Chaturvedi succeeds Sreeram Venkateswaran, who led DICV from August 2023 to March 2025. Venkateswaran made significant strides in developing the BharatBenz brand and reinforcing the company’s go-to-market strategies. As Chaturvedi takes the helm, he will focus on capitalizing on growth opportunities while responding to market fluctuations and evolving consumer needs in India.

With his strong credentials, Chaturvedi is well-equipped to lead DICV in its efforts to increase market share and boost operational efficiency. He previously drove 20% annual revenue growth at Hyundai Construction Equipment India and achieved a 200% increase in operating profit between 2022 and 2024. His experience at Tata Hitachi further honed his ability to manage cross-functional teams and implement strategic growth initiatives.

The appointment of Chaturvedi comes as DICV continues to evolve within the global framework of Daimler Truck. With key markets such as India and China becoming standalone focus areas, and a major merger reshaping Daimler Truck Asia, Chaturvedi will be pivotal in aligning DICV’s operations with Daimler’s broader strategic vision. His leadership will help ensure that DICV stays on course with its global goals while addressing local market dynamics.

Despite facing slower sales and tough market conditions, DICV has demonstrated resilience, with the company’s net profit in FY24 soaring fivefold to Rs 1,787 crore, even as sales volumes dropped by 23%. This financial success reflects the company’s operational effectiveness and the strong foundation laid by its leadership team, including the recent addition of Michael Moebius as President & Chief Procurement & Supply Chain Officer in November 2024.

As DICV charts its next phase of growth, Rajiv Chaturvedi’s leadership is poised to play a key role in strengthening the company’s competitive position and driving strategic growth in both the Indian and global commercial vehicle markets.