The Supervisory Board of Schaeffler AG has resolved to extend the contract of Sascha Zaps, CEO Bearings & Industrial Solutions, ahead of schedule and for an additional five years. The decision, made at its meeting on October 1, 2026, underscores the company's commitment to continuity and the successful further development of its bearing solutions and industrial applications business.
Sascha Zaps has been a member of the Board of Managing Directors of Schaeffler AG since May 1, 2024. Prior to that, he served since September 2021 as Regional CEO Europe and a member of the Executive Board of Schaeffler AG, which includes the members of the Board of Managing Directors and the four regional CEOs. His extended tenure is expected to provide stable leadership as the company navigates a challenging market environment.
Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board of Schaeffler AG, praised Zaps' contributions: “In recent years, Sascha Zaps has provided important impetus for the further development of our industrial business. With his comprehensive market and technology expertise, as well as his deep understanding of our customers’ needs, he has worked with his leadership team to define measures to steer the division onto a path of sustainable growth in a challenging environment. The Supervisory Board is therefore pleased to continue our successful collaboration with him.”
The extension is significant because it ensures leadership stability for Schaeffler's industrial division, which is a key part of the company's portfolio. With around 110,000 employees and more than 250 locations in 55 countries, Schaeffler is one of the world’s largest family-owned companies and ranks among Germany’s most innovative organizations. The industrial business, focused on bearing solutions and products for industrial applications, is critical to the company's overall strategy, especially as it drives forward innovations in motion technology.
Zaps' reappointment signals confidence in his ability to steer the division toward sustainable growth. His market and technology expertise, along with a deep understanding of customer needs, are seen as vital assets. The early extension also avoids potential disruption and allows the division to continue its strategic initiatives without interruption.
For photos of the Executive Board members, go to: www.schaeffler.com/en/group/executive-board.
The Schaeffler Group has been driving forward groundbreaking inventions and developments in the field of motion technology for 80 years. With innovative technologies, products, and services for electric mobility, CO2-efficient drives, chassis solutions, and renewable energies, the company is a reliable partner for making motion more efficient, intelligent, and sustainable - over the entire life cycle. Schaeffler describes its comprehensive range of products and services by means of eight product families: from bearing solutions and all types of linear guidance systems to repair and monitoring services.
This contract extension is a clear indication that Schaeffler values long-term leadership and is positioning itself for future growth in the industrial sector. It also reflects the company's focus on retaining top talent and ensuring that its strategic direction remains consistent. As the industrial landscape evolves, having a steady hand at the helm of Bearings & Industrial Solutions will be crucial for maintaining competitive advantage and delivering value to customers.
View the original release on www.newmediawire.com.
