Dr. Klaus Patzak is leaving Schaeffler AG at his own request

Departure by mutual agreement

Successor to be announced shortly

Dr. Klaus Patzak (56), Chief Financial Officer (CFO) of Schaeffler AG, has informed the Supervisory Board of Schaeffler AG of his wish to leave the company effective July 31, 2021.

The Supervisory Board has agreed to his departure, which is by mutual agreement, at its extraordinary meeting held today. A successor will be announced shortly.

Dr. Patzak was appointed CFO, which includes responsibility for Finance & IT, as a member of the Board of Managing Directors of Schaeffler AG on August 1, 2020. His previous appointments included positions as managing director of Siemens Gas and Power Management GmbH and chief financial officer of Osram Licht AG and Bilfinger SE.

“We respect Dr. Patzak’s wish to leave the company. On behalf of the Supervisory Board, I would like to thank him for his contribution to Schaeffler AG during the twelve months he headed Finance & IT. We wish Dr. Patzak all the best for his personal and professional future,” said Georg F. W. Schaeffler, family shareholder and Chairman of the Supervisory Board of Schaeffler AG.