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Schaeffler AG, DE000SHA0159

Schaeffler AG, DE000SHA0159

05.11.2019 - 08:02:37

Schaeffler AG: Chief Financial Officer Dietmar Heinrich does not extend contract

Chief Financial Officer Dietmar Heinrich does not extend contract

HERZOGENAURACH, November 5, 2019. Dietmar Heinrich, who has been the Chief Financial Officer of Schaeffler AG since August 2017, has decided for personal reasons not to extend his current contract, which runs until July 31, 2020.

Georg F. W. Schaeffler, Family Shareholder and Chairman of the Supervisory Board of Schaeffler AG, said: "We very much regret Mr. Heinrich's decision. During almost twenty five years at Schaeffler, he has made valuable contributions in various positions for the company. We wish him all the very best both personally and professionally for the future."

Klaus Rosenfeld, CEO of Schaeffler AG, added: "In his function as Chief Financial Officer, Dietmar Heinrich has strengthened the Finance department, improved the communication with the capital markets, and helped to implement the Schaeffler Group's efficiency programs. My colleagues on the Executive Board and I respect and regret his decision."

A successor will be announced in due course.

About Schaeffler

The Schaeffler Group is a leading global supplier to the automotive and industrial sectors. Its portfolio includes high-precision components and systems for engine, transmission, and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. Schaeffler is already shaping "Mobility for tomorrow" to a significant degree with innovative and sustainable technologies for electric mobility, digitalization, and Industry 4.0. The technology company generated sales of approximately EUR 14.2 billion in 2018. With around 89,000 employees, Schaeffler is one of the world's largest family companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies. With more than 2,400 patent applications in 2018, Schaeffler is Germany's second most innovative company according to the DPMA (German Patent and Trademark Office).

Contact:

Dr. Axel Lüdeke, Vice President Business and Financial Communications & PR, Schaeffler AG, Herzogenaurach Phone +49 9132 82-5000, e-mail: presse@schaeffler.com Renata Casaro, Head of Investor Relations, Schaeffler AG, Herzogenaurach Schaeffler AG, Herzogenaurach Tel. +49 9132 82-4440, E-Mail: ir@schaeffler.com

05.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: Schaeffler AG Industriestr. 1-3 91074 Herzogenaurach

Germany Phone: 09132 - 82 0 E-mail: ir@schaeffler.com Internet: www.schaeffler.com ISIN: DE000SHA0159 WKN: SHA015 Indices: SDAX Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange EQS News ID: 904377   End of News DGAP News Service

904377  05.11.2019 

@ dgap.de