ZF's CEO Dr. Sommer in Office for Another Five Years

www.chinabuses.org: "I am particularly delighted that our Supervisory Board members endorsed our CEO so strongly," stated Prof. Dr. Giorgio Behr, Chairman of the ZF Supervisory Board. "In the course of the last years, under the umbrella of Dr. Stefan Sommer, ZF's Board of Management successfully prepared the company to adapt to the changing automotive industry and mobility landscape. Here, the acquisition of TRW was the strategic masterpiece per se. Now it is about consistently pushing the ZF Strategy 2025. Thanks to our decision today, the Supervisory Board laid the ground for this undertaking."

Moreover, a clear message was conveyed by the two shareholder representatives stating that the CEO's confirmation is a significant step toward building a bright future for ZF. "We are looking very much forward to the continued cooperation with Dr. Stefan Sommer", said Andreas Brand, First Mayor of the city of Friedrichshafen and member of the Supervisory Board, and Dr. Joachim Meinecke, representative of the Dr. Jürgen and Irmgard Ulderup Foundation. "He gave fresh momentum to the company's business and is now driving the ZF & TRW integration process. Furthermore, he sets the course for future ZF innovations."

Frank Iwer, Vice-Chairman of the Supervisory Board and Trade Union Secretary of IG Metall, commented: "We are convinced that ZF is strategically on the right track, thanks to Stefan Sommer's outstanding commitment. The challenge is now to continue this journey with confidence and trust in the future, mutual respect, solidarity and social responsibility. The vital issue at stake: all locations and employees have to find their own place within this tremendously changing company. "

Against the backdrop of the company's scheduled debt relief and TRW integration, Dr. Sommer explained: "The change processes initiated will make ZF fit for the future. A future that is primarily driven by the megatrends of safety, efficiency and automated driving. Today, we are generating the economic and technological prerequisites to ensure ZF's long-term success and profitable growth. Here, the foundational structure enables us to plan and act for the long run. We can benefit from our organizational roots which is in the vital interest of our company and its workforce."

Dr. Stefan Sommer has been Chief Executive Officer of ZF Friedrichshafen AG since May 2012. In mid-2008, Dr. Sommer started at ZF Sachs AG where he was appointed Head of the Suspension Division. Then, in October 2010, ZF's Supervisory Board nominated him member of the Board of Management responsible for Materials Management. Prior to his ZF career, he held several management positions at automobile suppliers, e.g. at ITT Automotive and Continental.

Related China Bus News

• ZF and Foton Expand Strategic Partnership to Hybrid Transmission for China Market 09-20
• Pangood “X-POWER” Pushing Commercial Vehicles into the Era of Wheel Drive 09-19
• IAA Transportation 2024: ZF Further Expands Its Position as a Pacesetter of the Commercial Vehicle Industry 09-18
• Dongfeng Cummins Integrated Gas Powertrain: High Performance Creates High Value 09-12
• The New Generation of Dongfeng Cummins Engine D7.0 08-30
• ZF Drives Commercial Vehicles Innovation to Shape the Future of Transportation 08-23
• ZF Plans to Manufacture Two More Electric Axle Drives in Germany 08-14
• Jing-Jin Electric Reached a Strategic Cooperation with Dongfeng Dana Axle 08-08
• Dongfeng Cummins D4.5FE Engine 08-07
• Dongfeng Cummins Achieves Over 5 Billion Yuan in Sales in the First Half of 2024 08-05
• ZF Releases First-Half Financial Report with Sales Reaching 22 Billion Euros 08-01