Chief Technology Officer Prof. Dr.-Ing. Peter Gutzmer to retire

HERZOGENAURACH, Germany, Oct. 1, 2019 /PRNewswire/ -- At its meeting on October 1, 2019, the Supervisory Board of Schaeffler AG bade farewell to Chief Technology Officer and Deputy CEO Prof. Dr.-Ing. Peter Gutzmer (65), who is retiring after 18 years of service with the company. "Professor Gutzmer is a man of considerable innovative capacity who has made a lasting contribution to our organization. On behalf of the Supervisory Board and the entire Schaeffler family I would like to thank him for his passion, commitment and dedication. We wish him all the very best for the future," said Family Shareholder and Chairman of the Supervisory Board Georg F. W. Schaeffler.

Klaus Rosenfeld, CEO of Schaeffler AG, added: "During his tenure, Professor Gutzmer has constantly expanded and developed Schaeffler's technology portfolio, ushering in new mobility concepts, laying the groundwork for the establishment of our electric mobility business and initiating new partnerships. Under his leadership we successfully futureproofed our company-wide IT organization and established a digitalization department. Exercising great foresight and vision, he made a decisive contribution to the Schaeffler Group's successful alignment with the challenges of the future." Professor Gutzmer will, for a certain time, continue to support the company in an advisory capacity.

Career with Schaeffler began in 2001
Prof. Dr.-Ing. Peter Gutzmer can look back on a distinguished career. He completed an undergraduate degree in mechanical engineering at the University of Stuttgart before gaining a doctorate in internal combustion engine technology. After six years in research followed by 17 years in various leadership and project management positions at Porsche, Prof. Dr.-Ing. Peter Gutzmer joined Schaeffler in 2001, where he was appointed to the Management Board with responsibility for technical product development.

From 2002 to 2006 he also served as Chairman of the Management Board of LuK, a Schaeffler company based in Bühl that has since been renamed Schaeffler Automotive Buehl GmbH & Co. KG. Following that, from 2006 to 2009, he served as Deputy CEO of Schaeffler's Automotive division. From 2009 to 2011 he again took on additional responsibilities as Head of the Engine Systems business unit in the Powertrain division of Continental AG. He restructured the unit and initiated various strategic joint projects between Schaeffler and Continental.

In 2011, when Schaeffler changed its legal name to Schaeffler AG, he was appointed Chief Research & Development Officer. In June 2014 Prof. Dr.-Ing Peter Gutzmer was appointed Chief Technology Officer and Deputy CEO of Schaeffler AG.

Uwe Wagner appointed to Board as Chief Technology Officer
At its meeting on October 1, 2019, the Supervisory Board of Schaeffler AG appointed Uwe Wagner (54), currently Head of Research & Development, Automotive OEM and Industrial, as Professor Gutzmer's successor on the Board of Managing Directors for a term of three years, effective October 1, 2019. Mr. Wagner will serve on the Board as Chief Technology Officer.

"We are delighted that we have been able once again to fill a key position in the Schaeffler Group with a top performer from within our own organization. Uwe Wagner has demonstrated, most recently in his role as Head of Research & Development, how innovation and efficiency can go hand in hand. On behalf of the entire Supervisory Board I would like to wish Mr. Wagner every success in his new and challenging role," said Georg F. W. Schaeffler, Chairman of the Supervisory Board of Schaeffler AG.

About Schaeffler
The Schaeffler Group is a leading global supplier to the automotive and industrial sectors. Its portfolio includes high-precision components and systems for engine, transmission and chassis applications as well as rolling and plain bearing solutions for a large number of industrial applications. The Schaeffler Group is already shaping "Mobility for tomorrow" to a significant degree with innovative and sustainable technologies for electric mobility, digitalization, and Industry 4.0. The technology company generated sales of approximately EUR 14.2 billion in 2018. With around 90,500 employees, Schaeffler is one of the world's largest family companies and, with approximately 170 locations in over 50 countries, has a worldwide network of manufacturing locations, research and development facilities, and sales companies. With more than 2,400 patent applications in 2018, Schaeffler is Germany's second most innovative company according to the DPMA (German Patent and Trademark Office).

SOURCE Schaeffler