At its meeting on October 1, 2026, the Supervisory Board of Schaeffler AG resolved to extend, ahead of schedule and for an additional five years, the contract of Sascha Zaps, CEO Bearings & Industrial Solutions. This decision, announced via NEWMEDIAWIRE, underscores Schaeffler's dedication to maintaining stable leadership in a critical segment of its operations and highlights the company's strategic focus on its industrial 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 extensive experience within the company and deep understanding of the industrial sector have positioned him as a key driver of Schaeffler's success.
The early extension of Zaps' contract is significant because it provides continuity and stability at a time when the industrial sector faces numerous challenges, including supply chain disruptions, technological shifts, and economic uncertainties. By securing his leadership for another five years, Schaeffler is signaling its confidence in his ability to steer the Bearings & Industrial Solutions division toward sustainable growth. This move is likely to reassure investors, customers, and employees about the company's long-term strategy and commitment to its industrial business.
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 endorsement from the highest level of the company highlights the trust placed in Zaps and the importance of his role in Schaeffler's future.
The implications of this announcement extend beyond Schaeffler. As one of the world's largest family-owned companies and among Germany's most innovative organizations, Schaeffler's stability and strategic direction can influence the broader industrial and automotive supply chains. The Bearings & Industrial Solutions division is a cornerstone of Schaeffler's product portfolio, which includes bearing solutions and linear guidance systems, as well as repair and monitoring services. With around 110,000 employees and more than 250 locations in 55 countries, Schaeffler's performance has far-reaching effects on the global motion technology industry.
Continuity in leadership is often crucial for executing long-term strategies, especially in capital-intensive and innovation-driven industries. Zaps' extended tenure will allow him to see through initiatives aimed at enhancing efficiency, developing new technologies, and expanding market presence. For stakeholders, this decision reduces uncertainty and reinforces the company's commitment to its industrial division, which is vital for the company's diversification and resilience.
For photos of the Executive Board members, go to: www.schaeffler.com/en/group/executive-board. The original release can be viewed on www.newmediawire.com.
