Schaeffler extends Sascha Zaps’ contract as CEO Bearings & Industrial Solutions

The Supervisory Board of Schaeffler AG resolved to extend, ahead of schedule and for an additional five years, the contract of Sascha Zaps, CEO Bearings & Industrial Solutions.

Sascha Zaps has been a member of the Board of Managing Directors of Schaeffler AG since May 1, 2024. Prior to that, he had served since September 2021 as Regional CEO Europe and a member of the Executive Board of Schaeffler AG, which includes the members of the Board of Managing Directors and the four regional CEOs. With this extension, Schaeffler is committing to continuity and the successful further development of its business in bearing solutions and products for industrial applications.

Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board of Schaeffler AG: “In recent years, Sascha Zaps has provided important impetus for the further development of our industrial business. With his comprehensive market and technology expertise, as well as his deep understanding of our customers’ needs, he has worked with his leadership team to define measures to steer the division onto a path of sustainable growth in a challenging environment. The Supervisory Board is therefore pleased to continue our successful collaboration with him.”