Schaeffler strengthens board of managing directors

On August 1, 2017, Mr. Heinrich will take up his role as Chief Financial Officer of Schaeffler AG, replacing Dr. Ulrich Hauck, who will not have his contract extended, and will be resigning on good terms effective August 1, 2017.

Dietmar Heinrich has been with the Schaeffler Group for more than 22 years, having first joined in 1995, and has many years of experience in controlling and finance. He has been a member of the Executive Board, serving as Regional CEO Europe, since 2014. Prior to that, he held various positions with the company in Germany and abroad, including turns as Regional CFO Asia/Pacific and Regional CFO Europe.

The Supervisory Board also decided to extend the contract of Dr. Stefan Spindler, CEO Industrial, for a term of five years ending on April 30, 2023. Mr. Georg F. W. Schaeffler explained the rationale behind the decision: “Dr. Spindler got the realignment of our Industrial division off to a successful start. We are therefore delighted that he is able to continue the project. This is very important, because the Industrial division is an integral part of the Schaeffler Group.”

Dietmar Heinrich’s successor as a member of the Schaeffler Group's Executive Board and Regional CEO Europe is Jürgen Ziegler. Mr. Ziegler will take up his new position on August 1, 2017. He has been with the Schaeffler Group since April 2015 and served up until the end of 2016 as head of the South America Sub-Region, where he successfully oversaw the long-term restructuring of the Group’s South America business. Since January 2017, Mr. Ziegler has been based in Germany, where he heads the CORE and Global Footprint initiatives under the Agenda 4 plus One program. Prior to joining the Schaeffler Group, he worked for several years at Daimler AG, where he held various leadership positions.