The Supervisory Board of Schaeffler AG has extended the contract of Sascha Zaps, CEO Bearings & Industrial Solutions, ahead of schedule for an additional five years. The decision, made at the board's meeting on October 1, 2026, ensures continuity in leadership for the company's industrial business segment, which focuses on bearing solutions and products for industrial applications.
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. The Executive Board includes the members of the Board of Managing Directors and the four regional CEOs. This extension reflects the Supervisory Board's confidence in Zaps' ability to steer the division toward sustainable growth in a challenging environment.
Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board of Schaeffler AG, commented: “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.”
This news is significant for Schaeffler's industrial customers and the broader manufacturing sector. By securing Zaps' leadership for another five years, Schaeffler signals stability and a continued focus on innovation in bearing solutions and industrial products. The industrial division is crucial for the company, serving sectors such as renewable energies, electric mobility, and CO2-efficient drives. Zaps' expertise in market and technology trends is expected to drive further advancements, benefiting customers who rely on Schaeffler's products for efficient and intelligent motion solutions.
Schaeffler Group, with around 110,000 employees and more than 250 locations in 55 countries, is one of the world's largest family-owned companies and ranks among Germany's most innovative organizations. The company has been driving forward groundbreaking inventions in motion technology for 80 years. Its product range includes bearing solutions, linear guidance systems, and repair and monitoring services, all aimed at making motion more efficient, intelligent, and sustainable over the entire life cycle.
For photos of the Executive Board members, visit www.schaeffler.com/en/group/executive-board. The original release is available on www.newmediawire.com.
Certain statements in this press release are forward-looking and involve risks and uncertainties that could cause actual results to differ materially. Schaeffler assumes no obligation to publicly update or revise any forward-looking statement. Recipients should not place undue reliance on forward-looking statements, which only reflect the situation as of the date of the press release.
