Frank Stieler

Frank Stieler leads Knorr-Bremse as CEO, overseeing the Munich-based global market leader in braking and safety-critical systems for rail vehicles and commercial vehicles (trucks, buses, and trailers). Founded in 1905, Knorr-Bremse operates through two divisions: Rail Vehicle Systems and Commercial Vehicle Systems, both holding commanding global market positions. In rail braking, Knorr-Bremse holds over 50% of the global market, providing braking systems, entrance systems, HVAC, and platform screen doors for trains, metros, and trams. The company's rail products are installed on virtually every major rail network in the world. In commercial vehicles, Knorr-Bremse holds approximately 30% of the global market for braking systems, supplying major truck manufacturers including Daimler Truck, TRATON (VW), Volvo, and PACCAR with disc brakes, air treatment systems, and advanced driver assistance systems (ADAS). The company benefits from a powerful aftermarket business: once braking systems are installed on a vehicle, spare parts and maintenance generate recurring revenue throughout the vehicle's 20-30 year lifespan. Knorr-Bremse is also positioned to benefit from increasing train electrification, autonomous driving technology in trucks (which requires sophisticated braking integration), and the global investment in rail infrastructure. Key stock drivers include rail vehicle order intake, commercial vehicle production cycles, aftermarket revenue, ADAS/autonomous truck adoption, Chinese rail market dynamics, and shareholder structure stability.