Schaeffler AG announced on October 1, 2026, that its Supervisory Board has resolved to extend the contract of Sascha Zaps, CEO Bearings & Industrial Solutions, ahead of schedule and for an additional five years. Zaps has been a member of the Board of Managing Directors since May 1, 2024, and previously served as Regional CEO Europe and a member of the Executive Board starting in September 2021. This early renewal underscores the company's dedication to maintaining leadership stability and advancing its industrial business.
The decision reflects Schaeffler's strategic focus on continuity and the successful further development of its bearing solutions and industrial applications. Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board, praised Zaps' contributions: “In recent years, Sascha Zaps has provided important impetus for the further development of our industrial business. With his comprehensive market and technology expertise, as well as his deep understanding of our customers’ needs, he has worked with his leadership team to define measures to steer the division onto a path of sustainable growth in a challenging environment. The Supervisory Board is therefore pleased to continue our successful collaboration with him.”
For stakeholders, this extension signals stability in Schaeffler's industrial division, which is crucial as the company navigates a complex global market. The industrial segment, encompassing bearing solutions and linear guidance systems, is a cornerstone of Schaeffler's portfolio. By retaining Zaps, the company aims to build on recent initiatives to drive sustainable growth and innovation. This move is likely to reassure investors and customers about the company's long-term strategy in industrial applications, especially amid economic uncertainties and the ongoing transition to electrification and renewable energies.
Schaeffler Group, a family-owned enterprise with around 110,000 employees across more than 250 locations in 55 countries, has been a pioneer in motion technology for 80 years. Its product families include bearing solutions, linear guidance systems, and repair and monitoring services, serving sectors such as electric mobility, CO2-efficient drives, chassis solutions, and renewable energies. The extension of Zaps' contract aligns with Schaeffler's commitment to making motion more efficient, intelligent, and sustainable over the entire life cycle.
This announcement, covered by NEWMEDIAWIRE, highlights the company's proactive approach to leadership continuity. For photos of the Executive Board members, visit www.schaeffler.com/en/group/executive-board. The original release can be viewed on www.newmediawire.com.
In an industry where technological shifts and market volatility are constant, Schaeffler's decision to extend Zaps' tenure provides a clear message of stability and forward momentum. It allows the division to continue its focus on innovation and customer-centric solutions, potentially strengthening Schaeffler's competitive position in the global industrial market. As the company pursues sustainable growth, this leadership continuity could be instrumental in achieving its long-term objectives.
