Source: ZF AG announcement

FRIEDRICHSHAFEN, Germany — 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.

At the same time, 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.

Related post:
Scheider to Leave Zf in Early 2023

“The almost simultaneous end of three appointments of proven, successful, and highly esteemed board members poses a particular challenge for the company,” said Dr. Heinrich Hiesinger, Chairman of ZF’s Supervisory Board. “We are, therefore, very pleased to announce two successors today. The succession process for Dr. Sauer is already in an advanced stage.”

Dr. Holger Klein joined ZF in 2014 as a seasoned international industry expert from McKinsey management consultancy. Starting in 2015, he led the integration of U.S. 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.

Under his leadership, the company won traditional and new automotive OEMs in Asia as customers of ZF’s strategic and future-oriented products. In addition, he succeeded in positioning ZF increasingly as a systems provider.

Dr. Klein spearheaded the creation of new development centers and production facilities, especially in China, to capitalize on rapid technological change and enable it’s business expansion.

To view the entire announcement, click HERE.