Söding appointed in the Schaeffler Board

As of January 1, 2018, Schaeffler AG will separate the Automotive Aftermarket from its Automotive division, setting it up as a stand-alone division. As a consequence, the Schaeffler Group will divide its business into three divisions, Automotive OEM, Automotive Aftermarket and Industrial.

On that basis, the Supervisory board of Schaeffler AG decided to appoint Michael Söding to become Member of the Board of managing directors, effective January 1, 2018. From there on, he assumes responsibility for the Automotive Aftermarket business on board level. Söding has been head of Automotive Aftermarket within the Automotive division since 2009, significantly contributing to successfully develop the business.

The three divisions of the Schaeffler Group will in future be managed from divisional headquarters located in Bühl, Langen and Schweinfurt. The Automotive OEM division will be headquartered in Bühl. The new Automotive Aftermarket division will be managed from Langen. The Industrial division continues to be located in Schweinfurt. The corporate headquarter of Schaeffler Group will remain in Herzogenaurach.

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