Brazilian conglomerate Simpar has appointed new CEOs at two of its subsidiaries.
Aksel Krieger will take the helm of its heavy vehicles financing arm Automob, replacing Paulo Pinho, who left the company after seven years, Simpar said in a securities filing on Friday.
Kriger was previously vice president of BMW financial services in North America and CEO of the German carmaker’s Brazilian subsidiary, the filing said.
Simpar also appointed Christian Hahn CEO of its truck rental unit Vamos. He was previously executive director of Automob, according to a separate securities filing.
Hahn replaces outgoing CEO Gustavo Henrique Braga.
Simpar received the backing of Brazilian development bank BNDES for its capital increase earlier this year.