The Supervisory Board of Schaeffler AG has resolved to extend the contract of Sascha Zaps, CEO Bearings & Industrial Solutions, ahead of schedule for an additional five years. The decision, made at its 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. Prior to that, he served as Regional CEO Europe and a member of the Executive Board starting in September 2021. His reappointment ensures stable leadership for a division critical to Schaeffler's global operations, which employs around 110,000 people across more than 250 locations in 55 countries.
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 for the industrial sector, particularly for businesses in Long Beach and the surrounding area that rely on Schaeffler's motion technology products. Schaeffler's bearing solutions and linear guidance systems are integral to machinery, renewable energy systems, and electric mobility applications. By retaining Zaps, the company signals a steady hand in navigating supply chain complexities and advancing innovation in CO2-efficient drives and chassis solutions.
For readers in the region, this leadership stability could translate into consistent product availability and continued support for local industrial operations. Schaeffler's focus on sustainable growth aligns with broader trends in manufacturing, where efficiency and reliability are paramount. The company's 80-year history of pioneering motion technology positions it as a key partner for businesses seeking to optimize operations.
Zaps' extended tenure also highlights Schaeffler's strategic emphasis on its industrial division amid global economic pressures. The early contract renewal, effective immediately, allows the division to maintain momentum on long-term projects without disruption. This move is likely to reassure investors and customers alike, reinforcing Schaeffler's reputation as one of Germany's most innovative organizations.
As the industrial landscape evolves, Schaeffler's decision to prioritize leadership continuity could serve as a model for other companies balancing innovation with stability. For the Long Beach area, this means a reliable partner in motion technology remains at the helm, ready to support local industries in achieving greater efficiency and sustainability. More details about the executive board can be found at www.schaeffler.com/en/group/executive-board, and the original release is available at www.newmediawire.com.
