Kannan formally joins Torc’s government management group to go monetary operations in assist 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 automobile 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 carry its autonomous trucking expertise to market. He may also 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 government group,” mentioned Peter Vaughan Schmidt, Torc Robotics’ CEO. “Richard helps form our operational and enterprise choices utilizing a data-driven method. 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 chief management group. This prior integration empowered him to raised perceive and mannequin Torc’s budgeting and forecasting for the enterprise’s short- and long-term targets. It additionally supplied invaluable context on probably the most vital reporting wants for the CEO, Board of Administrators, and different key stakeholders.
“Having the ability to contribute to Torc’s imaginative and prescient of reworking the trucking business with autonomous expertise is an unbelievable alternative, and one which I stay up for taking over as Chief Monetary Officer,” mentioned Kannan. “To collaborate with such good folks right here at Torc, alongside our accomplice 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 circulation and financial savings enhancements. This timeframe included the pandemic and 2008 monetary disaster. Kannan’s management model is nimble and knowledge pushed. With many years of prior expertise teaching and mentoring groups in senior roles for Basic Electrical and Genworth Monetary, Kannan has lent his expertise 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 start of the self-driving automobile revolution, Torc has over 18 years of expertise in pioneering safety-critical, self-driving purposes. Torc presents a whole self-driving automobile software program and integration resolution and is presently specializing in commercializing autonomous vans for long-haul purposes within the U.S. Torc operates check amenities in Albuquerque, New Mexico, and engineering places of work in Austin, Texas; Stuttgart, Germany; and Montreal, Canada. Torc’s objective 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 clients with the most secure, most dependable, and cost-efficient resolution to the market.
