TITLE: CFO

COMPANY: Mercedes-Benz Group

BASED: Stuttgart, Germany

AGE: 57

NATIONALITY: German

CAREER HIGHLIGHTS

Harald Wilhelm, a native of Munich, earned a master’s degree in business from the Ludwig Maximilian University in his hometown. He started his career at Deutsche Aerospace, later Daimler-Benz Aerospace and DaimlerChrysler Aerospace, as an economist in 1991, becoming head of M&A in 1998. In 2000 he moved to the Airbus Group, starting as senior vice president, accounting, tax and financial services, and rising to CFO for the group as well as the commercial aircraft division. He joined Daimler Group in 2019 as a member of the board management with responsibility for finance and controlling in spring 2019.

REASON FOR WINNING

Mercedes-Benz Group has undergone a transition under Wilhelm’s oversight of the financial side, spinning off Daimler Trucks and changing its name from Daimler Group. CEO Ola Kallenius has challenged Mercedes to cut operating costs at the same time it focuses on EVs and higher-margin and luxury models, giving the ultraluxury Maybach, the sporty AMG and the SUV-focused G-Class badges their own distinct lines of vehicles. On the sales side, Mercedes has already moved to a direct-sales agency model in two of its largest markets, the U.K. and Germany.

Wilhelm has managed these seemingly conflicting goals while still keeping Mercedes’ margins at equal or better levels with its premium competitors. In the second quarter of 2023, car division return on sales was 13.5 percent; on vans, it was 15.5 percent. More important, Mercedes raised its forecast for the year -- saying that its higher prices have allowed it to offset higher materials costs and negative currency effects. And sales of high-end cars were up significantly: Mercedes-AMG sales rose by 19 percent, Maybach rose 39 percent and G-Class 29 percent.