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New Chief Financial Officer at Schaeffler

(PresseBox) (Herzogenaurach, ) In its meeting, the Supervisory Board of Schaeffler AG today appointed Dr. Ulrich Hauck (50) as a member of the Executive Board of Schaeffler AG. Dr. Ulrich Hauck will assume the position of Chief Financial Officer on April 1, 2015. He will take over this function from Klaus Rosenfeld (48), who has been both CEO and Chief Financial Officer of Schaeffler AG since October 4, 2013.

Dr. Hauck has been in charge of worldwide accounting and group controlling at Bayer AG since 2003, prior to which he held a leading position at Rheinmetall AG and was an auditor and tax consultant at Deloitte.

"Dr. Hauck is an outstanding specialist in the field of accounting, controlling, and tax who also possesses extensive experience working in capital market-oriented corporations, and we are delighted that he will be joining our company", said Georg F. W. Schaeffler, Chairman of the Schaeffler AG Supervisory Board.

The Schaeffler AG Supervisory Board was reconstituted at this meeting. As before, the Board is composed of 20 full members. Dr. Reinold Mittag and Jürgen Stolz were ap-pointed to the Supervisory Board as employee representatives to replace Jochen Hom-burg and Tobias Rienth. On the shareholder side, Prof. Dr.-Ing. Tong Zhang has joined the Supervisory Board to replace Dr. Hubertus Erlen, who has stepped down for reasons of age. Prof. Zhang is the director of the Clean Energy Automotive Engineering Center at Tongji University, Shanghai, China.

Georg F. W. Schaeffler said: "Prof. Zhang is a renowned technology expert and has many years of international experience in the automotive industry. His appointment also reflects the increasing importance of China for the Schaeffler Group."

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Schaeffler AG

Schaeffler with its product brands INA, LuK and FAG is a leading global 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. The group of companies with operations around the world generated revenue of approximately EUR 11.2 bn in 2013. With more than 80,000 employees worldwide, Schaeffler is one of the largest German and European technology companies in family ownership. With approximately 170 locations in 49 countries, Schaeffler has a worldwide network of manufacturing locations, research and development facilities, sales companies, engineering offices, and training centers.