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 the board’s 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 Schaeffler AG’s Board of Managing Directors since May 1, 2024. Previously, he served as Regional CEO Europe and a member of the Executive Board starting in September 2021. His extended tenure is expected to provide stable leadership as the division navigates a challenging market environment.
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 ensures leadership stability at a time when Schaeffler is positioning its industrial division for long-term growth. The company, which employs around 110,000 people across more than 250 locations in 55 countries, relies on its Bearings & Industrial Solutions unit to drive innovation in motion technology. Zaps’ continued leadership is likely to focus on advancing sustainable growth strategies and maintaining the division’s competitive edge.
Schaeffler has a long history of pioneering motion technology, with products spanning electric mobility, CO2-efficient drives, chassis solutions, and renewable energies. The Bearings & Industrial Solutions division is central to this portfolio, offering bearing solutions, linear guidance systems, and repair and monitoring services. The contract extension signals confidence in Zaps’ ability to steer the division through market uncertainties and capitalize on emerging opportunities.
For photos of the Executive Board members, visit www.schaeffler.com/en/group/executive-board. The original release can be viewed on www.newmediawire.com.
This move reflects Schaeffler’s strategic emphasis on continuity and expertise as it seeks to strengthen its industrial business. With Zaps at the helm for another five years, the company aims to build on recent initiatives and drive sustainable growth in a dynamic global market.
