Schaeffler extends Executive Board
At its meeting on 5 October, the Presiding Committee of the Supervisory Board of Schaeffler AG accepted the proposal of the Board of Managing Directors to separate the Automotive Aftermarket from the Automotive division of Schaeffler AG and to set it up as a standalone division, as of 1 January 2018. As a consequence, the Schaeffler Group will divide its business into three divisions – Automotive OEM, Automotive Aftermarket and Industrial.
On that basis, the Supervisory Board of Schaeffler AG decided to appoint Michael Söding (55) to become Member of the Board of Managing Directors, effective 1 January 1 2018. From there on he assumes responsibility for the Automotive Aftermarket business on board level.
Söding has been head of automotive aftermarket within the Automotive division since 2009. He holds a degree in business and engineering from Darmstadt Technical University. Prior to joining Schaeffler Group he served, among other companies, at Pirelli Germany and Exide Automotive Batterie GmbH in various management positions.
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