ZF Friedrichshafen has named Holger Klein, a current management board member focusing on China, as its next chairman and CEO, succeeding Wolf-Henning Scheider, who will leave the company at the start of 2023.
The world's third-largest auto supplier also said CFO Konstantin Sauer and Commercial Vehicles chief Wilhelm Rehn would leave the company. Those changes take effect at the end of 2022, the supplier said Friday in a statement.
Scheider, 60, joined ZF in 2018 from Mahle, where he was chairman and CEO. Before that he was head of the Automotive Technology business at Robert Bosch. He announced in March that he would be stepping down at the end of this year.