HERZOGENAURACH, Germany - The Supervisory Board of Schaeffler AG has appointed Claus Bauer (55) to the board of managing directors of Schaeffler AG as chief financial officer (CFO), responsible for finance and information technology, effective September 1, 2021, under a two-year contract. Bauer succeeds Dr. Klaus Patzak (56) who left Schaeffler AG at his own request effective July 31, 2021.
The board of managing directors of Schaeffler AG has also appointed Sascha Zaps (46) as Regional CEO Europe, effective September 1, 2021. The appointment makes Zaps a member of Schaeffler AG’s executive board comprising the eight managing directors and the four regional CEOs. In his new role, Zaps succeeds Jürgen Ziegler (62) who has retired effective July 31, 2021.
Zaps has been with Schaeffler since 2019 as CFO Industrial and senior vice president of business development of the Industrial division. His previous appointments include a variety of management positions at various companies such as senior vice president at McKinsey & Company, CEO and managing director at Telefonica Global Services, as well as CFO and managing director of private-equity investments. Sascha Zaps, who holds an MBA and a BA and is a trained industrial business management assistant, began his professional career in 1995 in the finance department of Siemens Automobiltechnik. Further roles in finance and accounting at Siemens VDO, Siemens Enterprises, and Telefonica O2 followed, including positions in Belgium and the U.S.