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Klaus Deller to become Chief Executive Officer of Schaeffler AG

Klaus Deller (51) to assume new position on July 1, 2014 / Klaus Rosenfeld (47) to become Deputy CEO of Schaeffler AG and Member of the Board of Directors of INA-Holding

(PresseBox) (Herzogenaurach, ) The supervisory board of Schaeffler AG at its meeting today has appointed Klaus Deller as the new Chief Executive Officer of Schaeffler AG. Klaus Deller will assume his new position on July 1, 2014.

Klaus Deller has been a Member of the Board of Directors at Knorr-Bremse AG with re-sponsibility for Commercial Vehicle Systems since 2009. Prior to that, he held senior positions at automotive suppliers Brose and Bosch. Georg F. W. Schaeffler, Chairman of the Supervisory Board at Schaeffler AG, said, "Klaus Deller is an exceptional leader with substantial experience in the automotive supplier industry. We are convinced that under his leadership, we will be able to further strengthen our position as the technology leader in automotive and industrial applications."

Schaeffler AG will continue to be led by Klaus Rosenfeld as Chief Executive Officer until July 1. With Klaus Deller's arrival, Klaus Rosenfeld will become Deputy CEO of Schaeffler AG and will focus once more on his responsibilities as Chief Financial Officer of Schaeffler AG. In addition, Klaus Rosenfeld will become the only non-family member to join the board of INA-Holding Schaeffler GmbH & Co KG, which holds the Schaeffler family's participations in Continental AG and Schaeffler Group.

Georg F. W. Schaeffler said, "Klaus Rosenfeld has made a major contribution to our company over the past years. Following the leadership change in October 2013, he rea-ligned the organizational and management structure of our company and initiated a cul-tural change in terms of leadership and communications. With his appointment as Deputy CEO of Schaeffler AG and as Member of the Board of INA-Holding, we honour his outstanding performance and commitment to our company. We will continue to move forward with the refocusing of Schaeffler Group that has been initiated under his leader-ship."

Schaeffler AG

Schaeffler with its product brands INA, LuK and FAG is a leading provider of rolling bearing and plain bearing solutions and of linear and direct drive technology, as well as a renowned supplier to the automotive industry of high-precision products and systems for engines, transmissions, and chassis applications. The group of companies with operations around the world generated sales of approximately €11.1 billion in 2012. With more than 78,000 employees worldwide, Schaeffler is one of the largest German and European industrial companies in family ownership. With 180 locations in over 50 countries, Schaeffler has a worldwide network of manufacturing locations, research and development facilities, distribution companies, engineering offices, and training centers.