ZF Appoints Wolf-Henning Scheider as ZF's new Chairman and CEO

Date: February 1, 2018

ZF Friedrichshafen AG News Release

With effect from February 1, 2018, ZF will have a new Chief Executive Officer, Wolf-Henning Scheider, who succeeds Dr. Konstantin Sauer as CEO and head of the ZF Group. The 55 year old business administration graduate has many years of management experience in technology companies such as Bosch and Mahle.

"As Mahle's CEO, Wolf-Henning Scheider demonstrated outstanding competence in regards to a game changing transformation process," said ZF's Chairman of the Supervisory Board Dr. Franz-Josef Paefgen.

Paefgen highlights Scheider’s three decades of experience in the industry and strong competence in business transformation:

"Scheider is an industry expert and a leader that stands for continuity – with both his technical and interpersonal skills. He will systematically continue to execute our Strategy ZF 2025," explained Paefgen. "He is also a visionary and stands for guided change. With sensitivity and in constant exchange with all parties involved, he will guide ZF through the challenging transformation process which the whole automotive industry is currently facing."

"Special thanks goes to Dr. Konstantin Sauer who assumed the role of ZF's CEO in addition to his function as CFO during the transition phase and as such, delivered stability for the company," said Paefgen. "I would also like to thank Mahle GmbH which enabled the quick and straightforward move of Wolf-Henning Scheider. The fact that the product portfolios do not have any overlaps has helped significantly in this process."

The ZF shareholders, the Zeppelin Foundation as well as the Ulderup Foundation welcome Wolf-Henning Scheider's designation: "Wolf-Henning Scheider has both excellent managerial skills and personality and comes with all the experience, leadership competence and strategic thinking required. He has outstanding connections and knows the tasks and challenges of the automotive and supplier industry very well," say Andreas Brand, representative of the Zeppelin Foundation, and Dr. Joachim Meinecke, representative of the Ulderup Foundation. "We are very much looking forward to working with him."

Wolf-Henning Scheider, born in Saarbrücken on May 6, 1962, studied business administration at the University of Saarbrücken, Germany, and the RWTH Aachen University, Germany, where he graduated in 1987.

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