The Supervisory Board of Schaeffler AG has extended the contract of Sascha Zaps, CEO Bearings & Industrial Solutions, for an additional five years, ahead of schedule. 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 the Board of Managing Directors since May 1, 2024, and previously served as Regional CEO Europe and a member of the Executive Board from September 2021.
Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board, praised Zaps for providing important impetus for the 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,” Schaeffler said. “The Supervisory Board is therefore pleased to continue our successful collaboration with him.”
The extension matters because it ensures stable leadership for Schaeffler’s industrial division at a time when the sector faces significant headwinds, including supply chain disruptions, energy transition pressures, and global economic uncertainty. By retaining Zaps, Schaeffler aims to maintain momentum on strategic initiatives designed to return the division to sustainable growth. The industrial business, which includes bearing solutions and linear guidance systems, is a cornerstone of Schaeffler’s product portfolio and its reputation as a pioneer in motion technology.
Schaeffler Group, a family-owned company with around 110,000 employees and more than 250 locations in 55 countries, has been driving innovations in motion technology for 80 years. Its industrial division is critical to serving diverse sectors such as renewable energies, manufacturing, and heavy machinery. Zaps’ leadership is expected to focus on expanding the company’s industrial footprint and advancing technologies that make motion more efficient, intelligent, and sustainable.
The early renewal also signals confidence in the division’s strategic direction. Under Zaps, the industrial business has defined measures to navigate challenges and capitalize on opportunities in electrification, automation, and digitalization. His continued leadership aligns with Schaeffler’s broader goals of innovation and customer-centric solutions. For photos of the Executive Board members, go to www.schaeffler.com/en/group/executive-board.
As the industrial landscape evolves, Schaeffler’s decision to extend Zaps’ contract provides stability and continuity, positioning the company to better address customer needs and market dynamics. The move is a clear vote of confidence in Zaps and his team, and it reinforces Schaeffler’s dedication to maintaining its competitive edge in bearing solutions and industrial products. This news was originally reported by NEWMEDIAWIRE.
