Press Release
ZF Board of Management change
- Stephan von Schuckmann steps down from the ZF Board of Management for family reasons
- ZF CEO Dr. Holger Klein will initially be in charge of the Powertrain division and the Asia-Pacific business, Prof. Dr. Peter Laier will be responsible for Materials Management
Friedrichshafen. Board of Management member Stephan von Schuckmann will leave the ZF Board of Management as of July 31, 2024, at his own request and for family reasons. His responsibilities will be provisionally assumed by CEO Dr. Holger Klein (Electrified Powertrain Technologies Division and Asia-Pacific Region) and Prof. Dr. Peter Laier (Materials Management).
As a member of the Board of Management since the beginning of 2021, Stephan von Schuckmann has been responsible for the ZF Electrified Powertrain Technologies Division, which has since become the ZF Group's largest division with sales of around €11.5 billion (2023) and generates almost a quarter of total Group sales.
"The enormous challenges of the transformation to e-mobility as well as the dynamic and serious changes in the market environment require my full attention and commitment every day. A family-related reason has prompted me to reassess my priorities. My family now needs my full support," von Schuckmann explains.
"It is with regret, but also with great respect, that we have taken note of Stephan von Schuckmann's decision, who has put his heart and soul into ZF for around two decades," comments Dr. Heinrich Hiesinger, Chairman of the ZF Supervisory Board, on von Schuckmann's departure. "With the orders he won for electric powertrains, he laid the foundation for the successful transformation from conventional to electric powertrain technology at ZF," says Hiesinger. "Stephan von Schuckmann also deserves the appreciation of the entire Supervisory Board for the further development of ZF's materials management and his commitment to China and the entire Asia-Pacific region. We wish him and his family all the best."
Speaking on behalf of the Zeppelin Foundation, which holds 93.8 percent of the shares in ZF, its Chairman Andreas Brand says: "For both the Zeppelin Foundation and the Ulderup Foundation, I can say: We regret Stephan von Schuckmann's decision and thank him for his pioneering ideas and the excellent cooperation over the past years."
A graduate in business administration, von Schuckmann joined ZF Friedrichshafen AG in 2003. After holding various management positions, he moved to the Passenger Car Driveline Technology Division in 2015 as Senior Vice President Finance, IT and Process Management, where he was appointed CEO in 2018. He has been a member of the ZF Board of Management since January 2021.
Stephan von Schuckmann's position will be reappointed by the ZF Supervisory Board in the near future.
