Schaeffler AG: Chief Financial Officer Dietmar Heinrich does not extend contract
November 05, 2019 at 02:05 am EST
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Schaeffler AG: Chief Financial Officer Dietmar Heinrich does not extend contract
05.11.2019 / 08:00
The issuer is solely responsible for the content of this announcement.
Chief Financial Officer Dietmar Heinrich does not extend contract
HERZOGENAURACH, November 5, 2019. Dietmar Heinrich, who has been the Chief Financial Officer of Schaeffler AG since August 2017, has decided for personal reasons not to extend his current contract, which runs until July 31, 2020.
Georg F. W. Schaeffler, Family Shareholder and Chairman of the Supervisory Board of Schaeffler AG, said: "We very much regret Mr. Heinrich's decision. During almost twenty five years at Schaeffler, he has made valuable contributions in various positions for the company. We wish him all the very best both personally and professionally for the future."
Klaus Rosenfeld, CEO of Schaeffler AG, added: "In his function as Chief Financial Officer, Dietmar Heinrich has strengthened the Finance department, improved the communication with the capital markets, and helped to implement the Schaeffler Group's efficiency programs. My colleagues on the Executive Board and I respect and regret his decision."
A successor will be announced in due course.
About Schaeffler
The Schaeffler Group is a leading global supplier to the automotive and industrial sectors. Its portfolio includes high-precision components and systems for engine, transmission, and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. Schaeffler is already shaping "Mobility for tomorrow" to a significant degree with innovative and sustainable technologies for electric mobility, digitalization, and Industry 4.0. The technology company generated sales of approximately EUR 14.2 billion in 2018. With around 89,000 employees, Schaeffler is one of the world's largest family companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies. With more than 2,400 patent applications in 2018, Schaeffler is Germany's second most innovative company according to the DPMA (German Patent and Trademark Office).
Contact:
Dr. Axel Lüdeke, Vice President Business and Financial Communications & PR, Schaeffler AG, Herzogenaurach
Phone +49 9132 82-5000, e-mail: presse@schaeffler.com
Renata Casaro, Head of Investor Relations, Schaeffler AG, Herzogenaurach
Schaeffler AG, Herzogenaurach
Tel. +49 9132 82-4440, E-Mail: ir@schaeffler.com
05.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.
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Schaeffler AG is a Germany-based company primarily engaged in the manufacture of automotive parts. Its activities are divided into two business segments: Automotive and Industrial. The Automotive segment comprises four subdivisions: Engine Systems, such as rolling bearing solutions, products for belt and chain drives, as well as valve train components; Transmission Systems, torsion and vibration dampers, clutches and double clutch systems, torque converters, bearing solutions and gearshift components; Chassis Systems, such as wheel bearings, steering components and power-assisted steering systems; and Automotive Aftermarket, offering repair service, among others. The Industrial segment is managed based on regions: Europe, Americas, Greater China and Asia/Pacific. The Company is also active in the field of digitalization of production.
SCHAEFFLER AG 
