Sascha Zaps' Contract as CEO Bearings & Industrial Solutions at Schaeffler Extended

HERZOGENAURACH, GERMANY - October 1, 2026 (NEWMEDIAWIRE) - At its meeting on October 1, 2026, the Supervisory Board of Schaeffler AG resolved to extend, ahead of schedule and for an additional five years, the contract of Sascha Zaps, CEO Bearings & Industrial Solutions.

Sascha Zaps has been a member of the Board of Managing Directors of Schaeffler AG since May 1, 2024. Prior to that, he had served since September 2021 as Regional CEO Europe and a member of the Executive Board of Schaeffler AG, which includes the members of the Board of Managing Directors and the four regional CEOs. With this extension, Schaeffler is committing to continuity and the successful further development of its business in bearing solutions and products for industrial applications.

Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board of Schaeffler AG: “In recent years, Sascha Zaps has provided important impetus for the further development of our industrial business. With his comprehensive market and technology expertise, as well as his deep understanding of our customers’ needs, he has worked with his leadership team to define measures to steer the division onto a path of sustainable growth in a challenging environment. The Supervisory Board is therefore pleased to continue our successful collaboration with him.”

For photos of the Executive Board members, go to: www.schaeffler.com/en/group/executive-board

Forward-looking statements and projections

Certain statements in this press release are forward-looking statements. By their nature, forward-looking statements involve a number of risks, uncertainties, and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Schaeffler assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Recipients of this press release should not place undue reliance on forward-looking statements, which only reflect the situation as of the date of this press release. Statements contained in this press release regarding past trends or events should not be taken as representation that such trends or events will continue in the future. The cautionary statements set out above should be considered in connection with any subsequent written or oral forward-looking statements that Schaeffler, or persons acting on its behalf, may issue.

Schaeffler Group - We pioneer motion

The Schaeffler Group has been driving forward groundbreaking inventions and developments in the field of motion technology for 80 years. With innovative technologies, products, and services for electric mobility, CO2-efficient drives, chassis solutions, and renewable energies, the company is a reliable partner for making motion more efficient, intelligent, and sustainable - over the entire life cycle. Schaeffler describes its comprehensive range of products and services by means of eight product families: from bearing solutions and all types of linear guidance systems to repair and monitoring services. With around 110,000 employees and more than 250 locations in 55 countries, Schaeffler is one of the world’s largest family-owned companies and ranks among Germany’s most innovative organizations.

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