* Thomas Hetmann is to leave the company
* Mary Jo Gresens is to provide support during transition

In collaboration with banks, the Executive Management Board of the Schaeffler Group is drafting a stable concept for the future of Schaeffler and Continental that will safeguard the interests of all involved. Decisions regarding personnel that affect the Executive Management Board of the Schaeffler Group are not demanded by the banks. Such decisions are made inside the company itself.

Despite this fact, there are differing opinions regarding the assessment of the concept for the future of the Schaeffler Group. It is for this reason that Thomas Hetmann, CFO of the Schaeffler Group, will leave the company by mutual agreement. Mr. Hetmann will leave the company once the handover of his duties to his successor is complete. At the same time, Mary Jo Gresens who was CFO at the Schaeffler Group from 1999 to 2006 will become a consultant to the company during the next few months.

The Schaeffler Group would like to thank Mr. Hetmann for his hard work and dedication to the company during the last few years.

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