Zaps succeeds Dr. Stefan Spindler (61), who will not be extending his contract beyond April 30, 2024 for reasons of age. Dr. Stefan Spindler took over the role on May 1, 2015.

Sascha Zaps joined Schaeffler in 2019 and was appointed Regional CEO Europe on September 1, 2021. In this role, he was already a member of the Schaeffler Executive Board, which is made up of the eight members of the Executive Board and the four regional CEOs. The successor for the leadership of the European business will be decided in good time before the handover of office next year. Prior to his appointment as Regional CEO Europe, Sascha Zaps was CFO Industrial and Head of Strategy & Business Development of the Industrial division.

Before joining Schaeffler, Sascha Zaps held various management positions at different companies, including Senior Vice President at McKinsey & Company, CEO and Managing Director at Telefonica Global Services and CFO and Managing Director of private equity investments. Sascha Zaps, who holds an MBA and a BA and is a qualified industrial clerk, began his professional career in 1995 in the finance department of Siemens Automotive. This was followed by further finance and accounting functions at Siemens VDO, Siemens Enterprise and Telefonica O2, including in Belgium and the USA.

Dr. Stefan Spindler. © Schaeffer

"I am delighted that we have been able to appoint Sascha Zaps, a candidate from our own ranks, to head our Industrial division. He has already held important management positions within the division in recent years and is therefore a proven expert in the industrial business. At the same time, I am grateful to Dr. Spindler for his willingness to fulfill his contract until the end of April 2024 and to familiarize Mr. Zaps with his new role, who will continue to focus on his current role as Regional CEO Europe until the handover of office," says Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board at Schaeffler.

"We would also like to take this opportunity to thank Dr. Spindler for his leadership of the Industrial division over the past eight years. It is to his credit that he has successfully transformed and strengthened the division and led it onto a sustainable path of profitability and growth. With the internal handover at the top, we are ensuring continuity and continuing the successful development seamlessly," says Georg F. W. Schaeffler.