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Source: ZF announcement
FRIEDRICHSHAFEN, Germany — Wolf-Henning Scheider, Chairman of the Board of Management and CEO ZF Group, responsible for Research & Development, Sales, informed the Supervisory Board at its last meeting that he did not wish to extend his contract, which expires in January 2023.
After more than three decades in the automotive industry and reaching the age of 60, he had decided to end his active time in the industry at the end of the year, to pursue other challenges.
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In 2018, Scheider had moved from Mahle to ZF. His time as chief executive officer included the Wabco acquisition, with which ZF set the course to becoming a full systems supplier in the commercial vehicle business. Yet, it was also marked by the two major crises concerning Covid-19 and the semiconductor shortage over the past two years, which ZF has nevertheless mastered very well thanks to a strong team performance and is now back on track for growth and profits.
The Chairman of the Supervisory Board, Dr. Heinrich Hiesinger, regrets Scheider’s decision, but also expresses understanding for his desire to pursue different paths again, after many years in prominent and demanding management positions in the automotive industry.
“Wolf-Henning Scheider has contributed quite decisively over the past four years, to ZF’s development into a leading supplier of cutting-edge electronic and mechatronic systems in its business fields,” he said.
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“The fact that ZF is back on track, after the past two years of crisis, is also due to Wolf-Henning Scheider’s work. We regret his personal decision, but also respect it. We thank him for his very successful commitment and excellent cooperation over the past four years,” stated Andreas Brand and Dr. Joachim Meinecke, representing the two owners, the Zeppelin Foundation and the Dr.-Jürgen-and-Irmgard-Ulderup Foundation.
Scheider will fulfill his current contract and affirms that he will devote all his efforts to achieving the goals laid out for 2022.
