ZF, a global technology company supplying advanced mobility products and systems for passenger cars, commercial vehicles and industrial technology, has announced that Stephan von Schuckmann, a member of the Board of Management, will leave his position as of July 31, 2024, citing family reasons.
The ZF Supervisory Board will reappoint von Schuckmann's position in the near future. His responsibilities will be temporarily assumed by CEO Dr Holger Klein (Electrified Powertrain Technologies Division and Asia-Pacific Region) and Prof Dr Peter Laier (Materials Management).
Von Schuckmann has been a pivotal figure on the Board of Management since early 2021, overseeing the ZF Electrified Powertrain Technologies Division. Under his leadership, this division has grown to become the largest within the ZF Group, achieving sales of approximately €11.5 billion in 2023 and accounting for nearly a quarter of the Group's total sales.
Reflecting on his decision, von Schuckmann stated, 'The enormous challenges of the transformation to e-mobility as well as the dynamic and serious changes in the market environment require my full attention and commitment every day. A family-related reason has prompted me to reassess my priorities. My family now needs my full support.'
Dr Heinrich Hiesinger, Chairman of the ZF Supervisory Board, expressed regret but also respect for von Schuckmann's decision. 'With the orders he won for electric powertrains, he laid the foundation for the successful transformation from conventional to electric powertrain technology at ZF,' Hiesinger remarked.
Andreas Brand, Chairman of the Zeppelin Foundation, which holds 93.8%of the shares in ZF, added, 'For both the Zeppelin Foundation and the Ulderup Foundation, I can say: We regret Stephan von Schuckmann's decision and thank him for his pioneering ideas and the excellent cooperation over the past years.'
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