Dr. Holger Klein, Member of the Board of Management responsible for the Asia-Pacific region, Car Chassis Technology Division, Aftermarket and Production, will succeed Wolf-Henning Scheider as Chairman and CEO of ZF Friedrichshafen AG at the end of 2022.
At the same time, Dr. Peter Laier will join the Board of Management to lead the Commercial Vehicle Solutions (CVS) and Industrial Technology divisions succeeding Wilhelm Rehm.
ZF Chief Financial Officer Dr. Konstantin Sauer will leave the company by the end of 2022 after many years of service. The Supervisory Board will fill the position in the near future, ZF said.
Dr. Klein joined ZF in 2014 from McKinsey management consultancy. Starting in 2015, he led the integration of U.S. company TRW Automotive post-acquisition, which he completed earlier than planned. In early 2017, Dr. Klein became Head of the Car Chassis Technology Division and realigned its product range with ZF’s “Next Generation Mobility” strategy. He has served as a member of the ZF Board of Management since 2018 and heads the Asia-Pacific and India regions from Shanghai. In addition, he manages the business of the Passenger Car Chassis Technology and Aftermarket divisions and is responsible for ZF’s worldwide production.
“ZF is undergoing an unprecedented, dynamic transformation. The appointment of Dr. Holger Klein as the new Chairman is an excellent and important signal both internally and externally,” said Andreas Brand as a representative of the Zeppelin Foundation of the City of Friedrichshafen, which holds 93.8 percent of all ZF shares.