Schaeffler AG announces new appointments to the Board of Management

Herzogenaurach, Germany- The Supervisory Board of Schaeffler AG., has announced two new appointments to its Board of Management. Additionally, there is another personnel change within the Executive Board. The Board of Management, which currently comprises eight members, will expand to nine members with the addition of the four regional CEOs starting October 1, 2024.

Mr. Thomas Stierle (54), currently leading the Electrification Solutions division at Vitesco Technologies, has been appointed to the Board of Management of Schaeffler AG’s new E-Mobility division, effective October 1, 2024. As previously announced, Dr. Jochen Schröder (53), who formerly headed the E-Mobility business division within the Automotive Technologies division at Schaeffler, will also assume the role of CEO for the Europe region on the same date. Additionally, Mr. Christophe Hannequin (48) has been appointed Chief Financial Officer and IT, becoming a full member of the Board of Management. He is set to start his duties by October 1, 2025, while his predecessor, Claus Bauer, will remain in his position until the end of his contract on August 31, 2025.

Mr. Thomas Stierle has been CEO of the Electrification Solutions division at Vitesco Technologies since early 2023, having previously managed Electrification Technology and Electronic Controls. He began his career at Siemens VDO and has worked at Continental Automotive in Germany and the USA. He holds a degree in electrical engineering from Dresden University of Technology.

Dr. Jochen Schröder joined Schaeffler in 2018, previously serving as CTO at Valeo-Siemens eAutomotive since 2016. He started at BMW AG in transmission development and held various roles in powertrain electrification. He earned his electrical engineering degree and doctorate in control technology from Hamburg University of Technology.

Mr. Christophe Hannequin has been Group CFO at JCB Group in Great Britain since 2022. He previously held finance management positions at Michelin and worked at Plastic Omnium and Saint-Gobain. Mr. Hannequin holds an MBA from Wake Forest University and a Master of Science from Bordeaux Graduate School of Management.

Mr. Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board of Schaeffler AG, said, “With the changes in the Executive Board of Schaeffler AG, we are consistently aligning the company with the upcoming merger with Vitesco Technologies AG in order to realize the resulting opportunities. Thomas Stierle will ensure that Vitesco Technologies’ success story in e-mobility will be continued at Schaeffler. And in his new role as Regional CEO Europe, Dr. Jochen Schröder will contribute his profound expertise of the automotive sector with a focus on electrification. Christophe Hannequin is a highly qualified and proven financial expert with extensive international experience in the finance sector, especially in the automotive sector but also in various industries and I am delighted to welcome him as our designated Chief Financial Officer. The Supervisory Board is looking forward to continuing the collaboration with the Executive Board."

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