Technology company ZF has announced that Dr Holger Klein, Member of the Board of Management responsible for the Asia-Pacific region, Car Chassis Technology Division, Aftermarket and Production, will succeed Wolf-Henning Scheider as Chairman and CEO of ZF Friedrichshafen AG at the turn of the year 2022/2023. Dr Klein will initially assume the role of Deputy Chairman of the ZF Board of Management before taking over as Chairman of the Board of Management and CEO as of January 1, 2023, from Wolf-Henning Scheider, who is leaving ZF.
Dr Klein joined ZF in 2014 as a seasoned international industry expert from McKinsey management consultancy. Starting in 2015, he led the integration of US company TRW Automotive post-acquisition, which he completed earlier than planned. In early 2017, Dr Klein became Head of the Car Chassis Technology Division and realigned its product range with ZF’s “Next Generation Mobility” strategy. He has served as a member of the ZF Board of Management since 2018 and heads the Asia-Pacific and India regions from Shanghai. In addition, he manages the business of the Passenger Car Chassis Technology and Aftermarket divisions and is responsible for ZF’s worldwide production.
The company also stated that Dr Peter Laier will join the Board of Management to lead the Commercial Vehicle Solutions (CVS) and Industrial Technology divisions succeeding Wilhelm Rehm. ZF Chief Financial Officer Dr Konstantin Sauer will leave the company by the end of 2022 after many years of service. The Supervisory Board will fill the position in the near future, a communication from the company stated.
Dr Heinrich Hiesinger, Chairman of ZF’s Supervisory Board, said, “The almost simultaneous end of three appointments of proven, successful, and highly esteemed board members poses a particular challenge for the company. We are, therefore, very pleased to announce two successors today. The succession process for Dr Sauer is already in an advanced stage.”
In addition, ZF Deputy Chairman Dr Konstantin Sauer, responsible for Finance, IT, and Mergers & Acquisitions will conclude his tenure with ZF at the end of 2022 after many years of service. The industrial engineer and Ph D graduate in business administration joined ZF in 1990, took over as President of ZF South America in 2000, and became the Group’s Chief Financial Officer in 2010.
The communication said that Board member Wilhelm Rehm (63) will also leave ZF when his contract expires at the end of the year. The mechanical engineering graduate joined ZF in 2003, took over in 2010 as Chairman of the Management Board of the former ZF Passau GmbH and became a member of the ZF Executive Board. Wilhelm Rehm has served as a member of the ZF Board of Management since 2012 and leads the Commercial Vehicle Solutions (CVS) and Industrial Technology divisions as well as materials management.
The Supervisory Board has appointed Dr Peter Laier to the ZF Board of Management to succeed Wilhelm Rehm and to lead ZF’s Commercial Vehicle Solutions and Industrial Technology divisions. The 54-year-old holds a PhD in engineering and held various executive roles at well-known industrial companies such as Continental and Benteler before joining Knorr-Bremse in 2016, where he led the commercial vehicle division until 2021, the company added.