Schaeffler extends Sascha Zaps’ contract as CEO Bearings & Industrial Solutions for five years
Schaeffler’s Supervisory Board has extended Sascha Zaps’ contract as CEO Bearings & Industrial Solutions ahead of schedule and for an additional five years.
- 5 years
- May 1, 2024
- September 2021
- October 1, 2026
What Happened
Schaeffler AG’s Supervisory Board met on October 1, 2026, and resolved to extend the contract of Sascha Zaps, CEO Bearings & Industrial Solutions, ahead of schedule and for an additional five years. Schaeffler said the extension commits it to continuity and the successful further development of its business in bearing solutions and products for industrial applications. The decision was announced in Herzogenaurach.
Sascha Zaps has been a member of the Board of Managing Directors of Schaeffler AG since May 1, 2024. Prior to that, he served since September 2021 as Regional CEO Europe and as a member of the Executive Board of Schaeffler AG. That Executive Board includes the members of the Board of Managing Directors and the four regional CEOs.
Sascha Zaps has served as Regional CEO Europe and a member of the Executive Board of Schaeffler AG.
Sascha Zaps becomes a member of the Board of Managing Directors of Schaeffler AG.
The Supervisory Board resolves to extend Sascha Zaps’ contract as CEO Bearings & Industrial Solutions ahead of schedule for an additional five years.
“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.”
5years
Resolved ahead of schedule by the Supervisory Board on October 1, 2026.
Previously from Schaeffler Group
Schaeffler has recently widened its Alstom Alliance rail cooperation to more vehicle types and to scale up local bearing remanufacturing, and it won Nordex Group’s Supplier Award in the Innovation category for wind turbine bearings. It is also developing high-speed rail wheelset bearings for 400 km/h and longer maintenance intervals.
- Schaeffler and Alstom widen rail partnership under Alstom Alliance
- Schaeffler wins Nordex supplier award for innovation in wind turbine bearings
- Schaeffler develops high-speed rail wheelset bearings for 400 km/h and longer maintenance intervals
Background drawn from MotorClaw's earlier coverage of Schaeffler Group's official releases.
Why this matters
The extension keeps Sascha Zaps in his role as CEO Bearings & Industrial Solutions for an additional five years. Schaeffler says the move commits it to continuity and the successful further development of its business in bearing solutions and products for industrial applications. The Supervisory Board credited Zaps with helping steer the division toward sustainable growth in a challenging environment.
Terms in This Story
- Supervisory Board
- A body that oversees a company’s management and makes decisions on matters such as executive appointments and contracts.
- Board of Managing Directors
- The executive body of a German stock corporation responsible for managing the company’s operations.
- Executive Board
- A company’s senior leadership body responsible for executive management.
- CEO
- Chief Executive Officer, the top executive responsible for managing a company or business unit.
Summarised from the linked release; details can be imperfect — always verify against the original source.