Schaeffler names new CFO ahead of expected merger: Report
Schaeffler has also announced the appointment of Vitesco Technologies' Thomas Stierle as head of the company's new E-Mobility division.
Schaeffler on Friday appointed Christophe Hannequin as the CFO, Reuters reported. The present CFO Claus Bauer will remain in his role till 31 August, 2025. Hannequin, the present CFO of JCB Group, will take over by October 1, 2025, the newswire noted.
Schaeffler has also announced the appointment of Vitesco Technologies' Thomas Stierle as head of the company's new E-Mobility division, the newswire reported.
These appointments come on the heels of the expected merger with Vitesco Technologies on October 1, Reuters reported.
On Thursday, CEO Klaus Rosenfeld told German media that Schaeffler will put into effect job cuts after the merger. The two firms agreed to the takeover last November, with Schaeffler aiming to up its focus on EV parts, the newswire reported.
RELATED ARTICLES
US tariffs will hurt both automakers and US manufacturing: ACEA
European Automobile Manufacturers’ Association says that the EU and the US must engage in dialogue to find an immediate ...
Trump levies 25% tariff on all cars imported to US
President Donald Trump claims new levy on all cars and car parts shipped into the country will create "tremendous growth...
Hyundai opens its third factory in the US: Metaplant America
Hyundai Motor Group Metaplant America's vehicle assembly and battery plant is the key pillar of the Hyundai Motor Group’...