German tier 1 provider ZF has introduced that Dr. Holger Klein, Member of the Board of Management liable for the Asia-Pacific area, Car Chassis Technology Division, Aftermarket and Production, will succeed Wolf-Henning Scheider as Chairman and CEO of ZF Friedrichshafen on the flip of the 12 months 2022/2023.
Simultaneously, Dr. Peter Laier will be part of the Board of Management to steer the Commercial Vehicle Solutions (CVS) and Industrial Technology divisions succeeding Wilhelm Rehm. ZF CFO Dr. Konstantin Sauer will go away the corporate by end-2022 after a few years of service. The Supervisory Board will fill the place within the close to future.
Dr. Heinrich Hiesinger, Chairman, ZF’s Supervisory Board mentioned, “The almost simultaneous end of three appointments of proven, successful, and highly esteemed board members poses a particular challenge for the company. We are, therefore, very pleased to announce two successors today. The succession process for Dr. Sauer is already in an advanced stage.”
Dr. Klein joined ZF in 2014 as a seasoned worldwide trade professional from McKinsey administration consultancy. In 2015, he was instrumental within the integration of US-based TRW Automotive post-acquisition, which he accomplished sooner than deliberate. In early 2017, he was appointed Head of the Car Chassis Technology Division and realigned its product vary with ZF’s ‘Next Generation Mobility’ technique. He has served as a member of the ZF Board of Management since 2018 and heads the Asia-Pacific and India areas from Shanghai.
In addition, he manages the enterprise of the Passenger Car Chassis Technology and Aftermarket divisions and is liable for ZF’s worldwide manufacturing. Under his management, ZF says the corporate has gained conventional and new automotive OEMs in Asia as clients of ZF’s strategic and future-oriented merchandise. In addition, he succeeded in positioning ZF more and more as a techniques supplier. Dr. Klein spearheaded the creation of latest improvement centres and manufacturing services, particularly in China, to capitalise on fast technological change and allow ZF’s enterprise enlargement.
Dr. Hiesinger added, “As a board member, Dr. Holger Klein was intimately involved in the strategic planning process for the coming years. Therefore, he will dynamically continue the successful transformation at ZF and add his own impulses.”
As of October 1, 2022, Dr. Klein will initially assume the function of Deputy Chairman of the ZF Board of Management earlier than taking on as Chairman of the Board of Management and CEO on January 1, 2023, from Wolf-Henning Scheider, who might be leaving ZF.
Scheider joined ZF in early 2018 as Chairman of the Board of Management and CEO after serving as Chairman of the Automotive Technology enterprise sector at Robert Bosch, in addition to Chairman of the Board and CEO of Mahle Group. Currently, he’s additionally answerable for R&D, in addition to gross sales of ZF Group. Dr. Hiesinger mentioned, “Wolf-Henning Scheider has set the strategic direction for the transformation of the company, achieved significant milestones, and will continue on this path with ZF through the end of the year to enable a transition focused on continuity.”
Andreas Brand, consultant of the Zeppelin Foundation of the City of Friedrichshafen, which holds 93.8 per cent of all ZF shares mentioned, “ZF is undergoing an unprecedented, dynamic transformation. The appointment of Dr. Holger Klein as the new Chairman is an excellent and important signal both internally and externally.”
Representing the Dr. Jurgen and Irmgard Ulderup Foundation, which holds a 6.2 per cent stake in ZF, Dr. Joachim Meinecke emphasised: “Dr. Klein possesses the best prerequisites, knows the company, its customers and suppliers, the industry and, above all, the challenges which need to be mastered today and in the future.”
In addition, ZF Deputy Chairman Dr. Konstantin Sauer, liable for Finance, IT, and Mergers & Acquisitions, will conclude his tenure with ZF on the finish of 2022. The industrial engineer and Ph.D. graduate in enterprise administration joined ZF in 1990, took over as President of ZF South America in 2000, and have become the Group’s CFO in 2010. “At ZF, Dr. Konstantin Sauer represents stability and smart financial management over many years. As a result, he has laid the foundation for the company’s successful acquisitions, transformation, and new growth. The Supervisory Board will address the succession of Dr. Sauer in the near future. During this difficult year, he agreed to stay through the end of the year, contrary to his original plans. I want to extend my heartfelt thanks to him for his continued service,” confused Dr. Hiesinger.
Board member Wilhelm Rehm can even go away ZF when his contract expires on the finish of the 12 months. The mechanical engineering graduate joined ZF in 2003, took over in 2010 as Chairman of the Management Board of the previous ZF Passau and have become a member of the ZF Executive Board. Wilhelm Rehm has served as a member of the ZF Board of Management since 2012 and leads the Commercial Vehicle Solutions (CVS) and Industrial Technology divisions in addition to supplies administration. “As a long-standing head of ZF’s commercial vehicle division, Wilhelm Rehm played a significant role in the successful integration of Wabco, which was acquired in 2020, and the launch of the CVS division at the beginning of 2022. In addition, he provided important impulses in industrial technology, for example with the establishment of ZF’s successful wind power business. For this and for his contributions to mastering the challenges over the past two years, he is particularly deserving of thanks from the Supervisory Board,” added Dr. Hiesinger.
The Supervisory Board has appointed Dr. Peter Laier to the ZF Board of Management to succeed Wilhelm Rehm and to steer ZF’s Commercial Vehicle Solutions and Industrial Technology divisions. He holds a Ph.D. in engineering and held numerous government roles at well-known industrial corporations resembling Continental and Benteler earlier than becoming a member of Knorr-Bremse in 2016, the place he led the business automobile division till 2021.
“Dr. Peter Laier brings many years of industry experience, expertise in the automotive supply industry, and a global commercial vehicle company,” concluded Dr. Hiesinger. From January 1, 2023, Dr. Laier will lead the enterprise of the Commercial Vehicle Solutions Division of ZF, as a member of the ZF Board of Management.
Source: www.financialexpress.com”