Kannan formally joins Torc’s government management staff to go monetary operations in help of the corporate’s go-to-market technique
BLACKSBURG, Va – March 14, 2024 – Torc Robotics, an unbiased subsidiary of Daimler Truck AG and a pioneer in commercializing self-driving car expertise, immediately introduced the appointment of Richard Kannan because the group’s new Chief Monetary Officer. In his function, Kannan will handle all monetary operations and lead the event of Torc’s general monetary technique because it strikes to deliver its autonomous trucking expertise to market. He can even oversee all reporting, enterprise danger 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 staff,” stated Peter Vaughan Schmidt, Torc Robotics’ CEO. “Richard helps form our operational and enterprise choices utilizing a data-driven method. This might 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 staff. 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 essentially the most important 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 trade with autonomous expertise is an unbelievable alternative, and one which I sit up for taking over as Chief Monetary Officer,” stated Kannan. “To collaborate with such sensible individuals right here at Torc, alongside our accomplice Daimler Truck AG, is an honor. I sit 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 move and financial savings enhancements. This timeframe included the pandemic and 2008 monetary disaster. Kannan’s management type is nimble and knowledge pushed. With a long time of prior expertise teaching and mentoring groups in senior roles for Common 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 unbiased subsidiary of Daimler Truck AG, a world chief and pioneer in trucking. Based in 2005 on the delivery of the self-driving car revolution, Torc has over 18 years of expertise in pioneering safety-critical, self-driving purposes. Torc presents an entire self-driving car software program and integration answer and is at present specializing in commercializing autonomous vans for long-haul purposes within the U.S. Torc operates check services in Albuquerque, New Mexico, and engineering workplaces 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 answer, we empower distinctive staff, ship a targeted, hub-to-hub autonomous truck product, and supply our prospects with the most secure, most dependable, and cost-efficient answer to the market.
