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Schaeffler AG: Jens Schüler appointed as new CEO of Automotive Aftermarket division

DGAP-News: Schaeffler AG / Key word(s): Personnel Schaeffler AG: Jens Schüler appointed as new CEO of Automotive Aftermarket division 22.04.2021 / 14:00 The issuer is solely responsible for the content of this announcement. Jens Schüler appointed as new CEO of Automotive Aftermarket division   - Michael Söding will retire at the end of the year after 20 years at Schaeffler

- Söding successfully established and developed the Automotive Aftermarket division into a global market leader

- Jens Schüler brings many years of international experience in the fields of strategy, sales and marketing, and digitalization
 

Herzogenaurach | April 22, 2021| During an extraordinary meeting, the Supervisory Board of Schaeffler AG has agreed the appointment of Jens Schüler (46) as the new CEO of the Automotive Aftermarket division with effect from January 1, 2022. He is successor to Michael Söding (59) who is retiring at the end of the year at his own request after working for Schaeffler for 20 years. The Automotive Aftermarket division posted revenue of 1.64 billion euros in 2020. The division employs around 1,700 employees.

Michael Söding studied industrial engineering and began his career at a renowned tire manufacturer in 1989. After various positions in the aftermarket sector, he joined the Schaeffler Group in 2002 where he initially assumed management functions in the fields of sales and marketing. From 2009 to 2017, he was responsible for Schaeffler's replacement parts business at a global level. With the establishment of Automotive Aftermarket as the company's third division with an Executive Board function in 2018, Mr. Söding was appointed as a member of Schaeffler AG's Executive Board. He is a member of important national and international associations, for example, he is the Chairman of the sector association AAMPACT and co-founder of various sector initiatives such as TecAlliance GmbH and Caruso GmbH.