Kannan formally joins Torc’s govt management crew to go monetary operations in help of the corporate’s go-to-market technique
BLACKSBURG, Va – March 14, 2024 – Torc Robotics, an impartial subsidiary of Daimler Truck AG and a pioneer in commercializing self-driving car expertise, in the present day introduced the appointment of Richard Kannan because the group’s new Chief Monetary Officer. In his position, Kannan will handle all monetary operations and lead the event of Torc’s total monetary technique because it strikes to deliver its autonomous trucking expertise to market. He can even oversee all reporting, enterprise threat administration and compliance obligations for the enterprise.
“Richard has confirmed himself to be a useful asset to Torc throughout his time as interim CFO, and I’m thrilled to welcome him as a everlasting member of our govt crew,” stated Peter Vaughan Schmidt, Torc Robotics’ CEO. “Richard helps form our operational and enterprise selections utilizing a data-driven strategy. This can be important as we work towards scalable market entry in 2027.”
After serving as interim CFO for Torc Robotics during the last a number of months, Kannan now turns into a everlasting member of the manager management crew. This prior integration empowered him to higher perceive and mannequin Torc’s budgeting and forecasting for the enterprise’s short- and long-term objectives. It additionally supplied invaluable context on essentially the most vital reporting wants for the CEO, Board of Administrators, and different key stakeholders.
“With the ability to contribute to Torc’s imaginative and prescient of remodeling the trucking business with autonomous expertise is an unimaginable alternative, and one which I stay up for taking up as Chief Monetary Officer,” stated Kannan. “To collaborate with such sensible individuals right here at Torc, alongside our companion Daimler Truck AG, is an honor. I stay up for serving to create worth for our many stakeholders as we drive the way forward for freight.”
Spanning a number of industries throughout his profession, Kannan generated multimillion-dollar money stream and financial savings enhancements. This timeframe included the pandemic and 2008 monetary disaster. Kannan’s management type is nimble and information pushed. With a long time of prior expertise teaching and mentoring groups in senior roles for Basic Electrical and Genworth Monetary, Kannan has lent his abilities within the C-suite each as a fractional and full-time CFO for on-line retail firms spanning the U.S. He’s a licensed CPA within the state of Virginia and holds a B.S. in Enterprise Administration from the College of North Carolina at Chapel Hill.
About Torc Robotics
Torc Robotics, headquartered in Blacksburg, Virginia, is an impartial subsidiary of Daimler Truck AG, a world chief and pioneer in trucking. Based in 2005 on the beginning of the self-driving car revolution, Torc has over 18 years of expertise in pioneering safety-critical, self-driving functions. Torc provides a whole self-driving car software program and integration resolution and is presently specializing in commercializing autonomous vans for long-haul functions within the U.S. Torc operates take a look at amenities in Albuquerque, New Mexico, and engineering places of work in Austin, Texas; Stuttgart, Germany; and Montreal, Canada. Torc’s function is driving the way forward for freight with autonomous expertise. Because the world’s main autonomous trucking resolution, we empower distinctive workers, ship a targeted, hub-to-hub autonomous truck product, and supply our prospects with the most secure, most dependable, and cost-efficient resolution to the market.
