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    SHA   DE000SHA0159

SCHAEFFLER AG

(SHA)
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PRESS RELEASE : Schaeffler AG: CFO Dr. Klaus Patzak is leaving Schaeffler AG

07/30/2021 | 11:48am EDT
DGAP-News: Schaeffler AG / Key word(s): Personnel 
Schaeffler AG: CFO Dr. Klaus Patzak is leaving Schaeffler AG 
2021-07-30 / 17:47 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
CFO Dr. Klaus Patzak is leaving Schaeffler AG 

- Dr. Klaus Patzak is leaving Schaeffler AG at his own request

- Departure by mutual agreement

- Successor to be announced shortly Herzogenaurach | July 30, 2021 | Dr. Klaus Patzak (56), Chief Financial Officer (CFO) of Schaeffler AG, has informed the Supervisory Board of Schaeffler AG of his wish to leave the company effective July 31, 2021.

The Supervisory Board has agreed to his departure, which is by mutual agreement, at its extraordinary meeting held today. A successor will be announced shortly.

Dr. Patzak was appointed CFO, which includes responsibility for Finance & IT, as a member of the Board of Managing Directors of Schaeffler AG on August 1, 2020. His previous appointments included positions as managing director of Siemens Gas and Power Management GmbH and chief financial officer of Osram Licht AG and Bilfinger SE.

"We respect Dr. Patzak's wish to leave the company. On behalf of the Supervisory Board, I would like to thank him for his contribution to Schaeffler AG during the twelve months he headed Finance & IT. We wish Dr. Patzak all the best for his personal and professional future," said Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board of Schaeffler AG.

Schaeffler Group - We pioneer motion As a leading global supplier to the automotive and industrial sectors, the Schaeffler Group has been driving forward groundbreaking inventions and developments in the fields of motion and mobility for over 70 years. With innovative technologies, products, and services for CO?-efficient drives, electric mobility, Industry 4.0, digitalization, and renewable energies, the company is a reliable partner for making motion and mobility more efficient, intelligent, and sustainable. The technology company manufactures high-precision components and systems for powertrain and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The Schaeffler Group generated sales of approximately EUR 12.6 billion in 2020. With around 83,900 employees, Schaeffler is one of the world's largest family companies. With more than 1,900 patent applications in 2020, Schaeffler is Germany's second most innovative company according to the DPMA (German Patent and Trademark Office).

Contact

Dr. Axel Lüdeke                                             Renata Casaro 
Head of Group Communications & Public Affairs Schaeffler AG Head of Investor Relations 
Herzogenaurach, Germany                                     Schaeffler AG, 
                                                            Herzogenaurach, Germany 
phone: +49 9132 82 8901                                     phone: +49 9132 82 4440 
email: axel.luedeke@schaeffler.com                          email: ir@schaeffler.com 
 ----------------------------------------------------------------------------------------------------------------------- 

2021-07-30 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      Schaeffler AG 
              Industriestr. 1-3 
              91074 Herzogenaurach 
              Germany 
Phone:        09132 - 82 0 
E-mail:       ir@schaeffler.com 
Internet:     www.schaeffler.com 
ISIN:         DE000SHA0159 
WKN:          SHA015 
Indices:      SDAX 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1223155 
 
End of News   DGAP News Service 
=------------ 

1223155 2021-07-30

 
Image link: 
https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1223155&application_name=news 
 

(END) Dow Jones Newswires

July 30, 2021 11:47 ET (15:47 GMT)

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Sales 2021 14 026 M 16 453 M 16 453 M
Net income 2021 721 M 845 M 845 M
Net Debt 2021 2 109 M 2 474 M 2 474 M
P/E ratio 2021 5,69x
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EV / Sales 2021 0,45x
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Mean consensus HOLD
Number of Analysts 14
Last Close Price 6,22 €
Average target price 8,32 €
Spread / Average Target 33,8%
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Managers and Directors
Klaus Rosenfeld Chief Executive Officer
Claus Bauer Chief Financial Officer
Georg F. W. Schaeffler Chairman-Supervisory Board
Uwe Wagner Chief Technology Officer
Andreas Schick Chief Operating Officer
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