In its meeting of May 20, 2022, the Supervisory Board of Schaeffler AG has decided to extend the terms of office and existing contracts of Claus Bauer, CFO with responsibility for Finance and IT, and Dr. Stefan Spindler, CEO of the Industrial division.

Claus Bauer has been appointed as Chief Financial Officer on September 1, 2021, initially for the duration of two years. His appointment as member of the Board of Managing Directors of Schaeffler AG and his contract have now been extended until August 31, 2025.

Dr. Stefan Spindler was appointed to the Board of Managing Directors of Schaeffler AG and took over the position as CEO Industrial on May 1, 2015. The Supervisory Board has now extended Dr. Stefan Spindler’s appointment as member of the Board of Managing Directors and the existing contract until April 30, 2024.

“Particularly in times of transformation within the industry, continuity takes on a special meaning for the Schaeffler Group. With the extensions to the appointments and existing contracts, we are laying the groundwork for continuing our successful cooperation with Claus Bauer and Dr. Stefan Spindler,” said Georg F. W. Schaeffler, Family Shareholder and Chairman of the Supervisory Board.

“I am very pleased that Mr. Bauer will carry on in the role of Chief Financial Officer until 2025 and continue to enrich the Schaeffler Group with his extensive experience in this key position. I also thank Dr. Spindler very much for being available to us until 2024 to continue the success story of our Industrial division.”

The Schaeffler Group is a leading global bearing supplier to the automotive and industrial sectors.