The Supervisory Board of Schaeffler AG has appointed Claus Bauer (55) to the Board of Managing Directors of Schaeffler AG as Chief Financial Officer (CFO), responsible for Finance & Information Technology, effective September 1, 2021, under a two-year contract. Claus Bauer succeeds Dr. Klaus Patzak (56) who left Schaeffler AG at his own request effective July 31, 2021. The Board of Managing Directors of Schaeffler AG has also appointed Sascha Zaps (46) Regional CEO Europe, effective September 1, 2021. The appointment makes Sascha Zaps a member of Schaeffler AG's Executive Board comprising the eight Managing Directors and the four regional CEOs. In his new role, Sascha Zaps succeeds Jürgen Ziegler (62) who has retired effective July 31, 2021.