The Supervisory Board of Schaeffler AG has extended the contract of Sascha Zaps, CEO Bearings & Industrial Solutions, ahead of schedule for an additional five years. The decision, made at its meeting on October 1, 2026, underscores the company's commitment to continuity and the successful further development of its bearing solutions and industrial applications business.
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. His reappointment ensures stable leadership for a division that is central to Schaeffler's industrial segment.
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.”
The extension matters because it provides leadership stability at a time when the industrial sector faces headwinds from economic uncertainty, supply chain disruptions, and shifting demand patterns. By securing Zaps for another five years, Schaeffler aims to maintain momentum on its strategic initiatives, including innovation in motion technology and expansion in renewable energy and electric mobility applications. The move also signals confidence in the current management approach and reduces the risk of abrupt strategic shifts.
Schaeffler, a family-owned company with around 110,000 employees and more than 250 locations in 55 countries, has been a pioneer in motion technology for 80 years. Its Bearings & Industrial Solutions division is crucial for delivering products and services across eight product families, from bearing solutions to linear guidance systems and monitoring services. Zaps' continued leadership is expected to drive further growth and efficiency in this core area.
For more information on Schaeffler's Executive Board, visit www.schaeffler.com/en/group/executive-board. The original release is available on www.newmediawire.com.
