Schaeffler changes board member new chief operating officer to take office in April

At the meeting of the Schaeffler Group Supervisory Board held on March 2, 2018, the Schaeffler Group formally appointed Mr. Andreas Siech (47) as a member of the Schaeffler Group. From April 1, 2018, he will take over as Chief Operating Officer of the Schaeffler Group. Current Chief Operating Officer Mr. Oliver Jung (56) will end his term of office and leave the Schaeffler Group on March 31, 2018. . Andreas Hick appointed as board member of the Schaeffler Group

Mr. Andreas Sigg has been appointed to the Schaeffler Group Board of Directors since April 1st

The chairman of the supervisory board of the Schaeffler Group, Mr. George FW Schaeffler, said: "Mr. Oliver Jung joined the Schaeffler Group since February 2008 and has been a member of the board of directors since October 2013. He is in operational excellence. Made outstanding contributions, especially in the layout of Schaeffler Group's global factories and the implementation of the production system. On behalf of all members of the board of supervisors, I am grateful to Mr. Oliver Jung for his outstanding contributions in the past few years, and wish him Personal and professional development have a better future."

With regard to the addition of Mr. Andreas Sigg, Mr. George FW Schaeffler said: "The appointment of Mr. Andreas Shik means that we again promote the internal senior management staff to the board of directors of the Group. Mr. Andreas Sigg joined Schaeffler Group in 1994 and has accumulated rich experience, production and operation expertise in Schaeffler's Germany and overseas regions. Has the working experience of the group's board of directors."

According to a contractual agreement between the Schaeffler Group Board of Directors and the Chief Human Resources Officer Ms. Cortina Sternheim, she will extend her tenure until December 31, 2023.

The Chairman of the Supervisory Board of the Schaeffler Group, Mr. George FW Schaeffler, stated: “On behalf of the board of supervisors, I sincerely hope that Ms. Corinne Sternheim and Andreas Sik will be in their respective positions. Everything went smoothly and succeeded."

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