Daimler India Commercial Vehicles (DICV) has named Rajiv Chaturvedi as its new President and Chief Business Officer, signaling a strategic move to strengthen its position in one of Asia’s most competitive truck markets. The announcement was made by Chaturvedi on social media, marking a key leadership transition for the Indian arm of Daimler Truck AG.
Chaturvedi succeeds Sreeram Venkateswaran, who held the CBO role from August 2023 to March 2025. A veteran of the commercial vehicle industry, Venkateswaran played a pivotal role in crafting DICV’s India strategy. His tenure included shaping the go-to-market framework for BharatBenz, Daimler’s dedicated Indian truck brand, under the leadership of former CEO Marc Llistosella. Prior to DICV, he also brought startup-driven agility to the company from his leadership stint at logistics startup Rivigo.
Rajiv Chaturvedi’s appointment as DICV’s President and CBO comes at a pivotal time for India’s commercial vehicle sector, which faces slower growth and rising competition. With a strong background in strategic expansion and operational excellence, Chaturvedi is expected to steer DICV through evolving market dynamics.
At Hyundai Construction Equipment India, he led significant growth—achieving over 20% annual revenue growth and a 200% increase in operating profit between 2022 and 2024. His experience also spans leadership roles at Tata Hitachi Construction Machinery and a strategic role as Executive Assistant to the Managing Director, honing his cross-functional expertise.
Rajiv Chaturvedi takes charge at DICV during a period of mixed performance and strategic transition. While the company’s sales dropped 23% in 2024 (21,434 units vs. 25,435 in 2023), it posted a fivefold increase in net profit to ₹1,787 crore in FY24, driven by strong demand for high-margin products like tippers and tractor-trailers, an expanding bus portfolio, and robust export operations.
Strategically, DICV is undergoing a shift within Daimler Truck’s global structure, as India and China are now positioned outside the Daimler Truck Asia region. A major merger between Mitsubishi Fuso and Hino Trucks is set to reshape the group’s Asia presence.
As competition intensifies with players like Tata Motors, Ashok Leyland, and VE Commercial Vehicles, Chaturvedi’s deep infrastructure experience will be key to strengthening BharatBenz’s market share and guiding DICV through its next phase of growth and integration.
