At a meeting of the Supervisory Board held on 26 May 2023, the Schaeffler Group appointed Mr. Sascha Zaps, 48 years old, as a member of the Executive Board of Directors to assume the position of Chief Executive Officer of the Industrial Division of the Schaeffler Group. The appointment is effective from May 1, 2024.

Due to his age, the current CEO of the Industrial Division, Dr. Stefan Spindler, will not renew his contract when it expires (30 April 2024). Dr. Spindler has been the Chief Executive Officer of Schaeffler Group’s Industrial Division since May 1 2015.

Sasha Zaps was appointed Chief Executive Officer of Schaeffler Group Europe on 1 September 2021. The Schaeffler Group Board of Directors consists of eight executive directors and four regional chief Executives. As Chief executive of Europe, Mr Zaps is already a member of the board of Schaeffler Group. A successor as chief executive of Europe will be decided in due course before the role is handed over next year.

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Mr. Sasha Zaps holds MBA and BA degrees. He began his career in 1995 working in the finance department of Siemens Automobiltechnik. He then held positions at Siemens VDO, Siemens Enterprises and Telefonica O2, with stints in Belgium and the United States. Since then Mr. Zaps has held various management positions at a number of companies, including Senior Vice President of McKinsey & Company, CEO and Managing Director of Telefonica Global Services, and CFO and Managing Director of the Private equity firm. Mr. Zaps joined Schaeffler in 2019 as Chief Financial Officer of the Group’s Industrial Division and Senior Vice President of Business Development.

“I am very pleased to have promoted Mr. Sasha Zaps from within to oversee the Industrial division of the Schaeffler Group. Over the past few years, Mr. Zaps has held various management positions within the Industrial Division and has become a recognized expert in the industry. I would also like to thank Dr. Spindler for continuing his duties until the end of April 2024 and for supporting Mr. Zaps in his transition. Mr Zaps will remain in the role until he completes his transition as chief executive of Europe.

In addition, I would like to take this opportunity to thank Dr. Spindler for his outstanding management of the Industrial Division over the past eight years. He has led the team to further strengthen the Industrial business and successfully transform the Industrial Division and put it on a path of sustainable profitability and growth. Through this internal baton transfer, we will ensure seamless management of the Industrial Division and continue to drive the successful development of the business.”

— Family shareholder and chairman of the supervisory board of Schaeffler Group

George F.W. Schaeffler