• Prof. Dr.-Ing. Peter Gutzmer retires

• Successor from within Schaeffler’s own ranks

• Contract of Matthias Zink extended

In today’s meeting, the Supervisory Board of Schaeffler AG appointed Mr. Uwe Wagner (54), Head of Research and Development Automotive OEM and Industry, to become member of the Board of Managing Directors of Schaeffler AG for a period of three years, as of January 1st, 2020. Mr. Wagner will succeed Prof. Dr.-Ing. Peter Gutzmer (65), who will retire as of December 31st, 2019. He will take over the responsibility as Chief Technology Officer.

The Supervisory Board also decided to extend the contract of Matthias Zink (49), CEO of the Automotive OEM division, by a further five years until December 31, 2024.

With regard to the changes, Georg F. W. Schaeffler, Chairman of the Supervisory Board of Schaeffler AG, said: “We are delighted to welcome Mr. Uwe Wagner, another top talent within the Schaeffler Group, to the Board of Managing Directors of Schaeffler AG. As Chief Technology Officer, he will take over a key position for the future development of Schaeffler Group. Prof. Dr. Gutzmer has been with Schaeffler Group for more than 17 years. He has shaped the company with passion and innovation. On behalf of the entire Supervisory Board, I would like to thank Professor Dr. Gutzmer, who in addition to his role as Chief Technology Officer also served as Deputy CEO, for his outstanding work and his extraordinary commitment.”