Klaus Rosenfeld has been appointed as Chief Executive Officer of Schaeffler AG for a further five years-Wafangdian Guangyang Bearing Group Co., Ltd.

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Klaus Rosenfeld has been appointed as Chief Executive Officer of Schaeffler AG for a further five years

Release Time：10 Oct,2018

Klaus Rosenfeld joined Dresdner Bank AG in 2009 as CFO of the Schaeffler Group. In June 2014, he was appointed Chairman of the Board of Management of Schaeffler AG. Under his leadership, the initial public offering of Schaeffler AG took place in October 2015. With the "Mobility for Tomorrow" strategy and the "Agenda 4 plus One" future program, he has been successfully promoting the transformation of the Schaeffler Group ever since.

At today's meeting, the Supervisory Board of Schaeffler AG has decided to extend the contract with Klaus Rosenfeld (52), the current Chairman of the Board of Management of Schaeffler AG, by a further five years until June 30, 2024.
Georg FW Schaeffler, Chairman of the Supervisory Board of Schaeffler AG, said: "Klaus Rosenfeld stands for the successful further development of the Schaeffler Group in times of great challenges and changes. After taking on the role of CEO in 2014, he has made exemplary use of the necessary transformation of the Group, opened Schaeffler up to the capital market and laid the foundation for the company with the strategy 'Mobility for Tomorrow' and the 'Agenda 4 plus One' program to align the future. We are pleased that he will remain at our disposal for another five years as Chairman of the Board of Management of Schaeffler AG in order to continue the successful work of recent years. On behalf of the entire Supervisory Board, I wish Mr. Rosenfeld and the entire Executive Board of Schaeffler AG every success and all the best in mastering the tasks ahead of us. "

Forward-Looking Statements and Statements
Certain statements in this press release are forward-looking statements. By their very nature, forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or developments to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions may adversely affect the outcome and financial consequences of the operations and developments described in this document. There is no obligation to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, through public announcement. The recipients of this press release should not place undue reliance on forward-looking statements that reflect the status as of the date of this press release. Statements made in this news release about trends or past developments should not be taken as statements that these trends and developments will continue in the future. The above warnings are to be read in conjunction with subsequent oral or written forward-looking statements of Schaeffler or persons acting on its behalf.