Changes within the Board of Managing Directors of Schaeffler AG

Herzogenaurach, (PresseBox) - In today’s meeting, the Supervisory Board of Schaeffler AG agreed to the wish expressed by Chief Financial Officer, Dr. Ulrich Hauck, not to extend his contract that expires March 31, 2018.

Dr. Hauck has been in charge of Finance since April 1, 2015. The Supervisory Board and the Board of Managing Directors of Schaeffler AG thank Dr. Hauck for his contribution and wish him the very best for his professional and his private life. A decision about a successor will be made in due time.

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Schaeffler AG

The Schaeffler Group is a globally active automotive and industrial supplier. Highest quality, outstanding technology, and strong innovative ability represent the basis for the Schaeffler Group's lasting success. Its precision components and systems for engines, transmissions, and chassis as well as rolling and plain bearing solutions for numerous industrial applications make the Schaeffler Group a key contributor to "Mobility for tomorrow". The technology company generated sales of approximately 13.3 billion euros in 2016. With around 86,600 employees, Schaeffler is one of the world's largest companies in family ownership. It has a worldwide network of manufacturing locations, research and development facilities, and sales companies at approximately 170 locations in over 50 countries.

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