Rainer Schmueckle joins Advent International

Article by Christian Andrei, on November 25, 2010

Rainer Schmueckle has joined Advent International, a global financial investment firm, as an operating officer. After 26 years, in June 2010, Schmueckle lost his position at Daimler AG’s Mercedes-Benz car unit to Wolfgang Bernhard.

Bernhard, who rejoined Daimler in 2009 after a four-year absence, was tasked to oversee Mercedes’ procurement and production in February, replacing Schmeuckle, who was Daimler CEO Dieter Zetsche’s No. 2 before the management reorganization.

Schmueckle was known for his ability to revive ailing subsidiaries of the corporation. A successful turnaround that Schmueckle had been at the center of was at Daimler’s U.S. heavy-trucks unit, Freightliner. Before Daimler sold its former U.S. unit, Bernhard was Zietsche’s right-hand man at Chrysler.

Bernhard was to become head of Mercedes cars in 2004 before union opposition to his appointment and disagreements with then-CEO Juergen Schrempp led to his demotion and eventual departure from the Company.

Meanwhile, Schmueckle will identify investment opportunities and advise Advent’s customers on strategic and operational development. Advent controls $26 billion in client funds.

Topics: investment

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

In Japan, Toyota stays in the limelight by always cooking up something new for its famous 86 sports car. A colour orange Toyota 86 performance edition is one that’s hard...
by - December 4, 2016
Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
In the minivan segment, the 2017 Chrysler Pacifica is already impressive in terms of fuel economy figures – as rated by the United States Environmental Protection Agency. In fact, the...
by - December 2, 2016
Having a blacked-out Bentley Mulsanne Speed is already menacing by itself but by naming it as the Bamford X, it became all the more imposing. This model was made by...
by - December 2, 2016
We have good news for those who are waiting for the latest version of the Mazda CX-5 compact crossover. It was just unveiled in November at the 2016 Los Angeles...
by - December 2, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries