Auto part maker Schaeffler announces new CFO ahead of planned merger

admin admin | 09-28 00:30

German car part maker Schaeffler has appointed Christophe Hannequin as its new Chief Financial Officer.
German car part maker Schaeffler on Friday announced the appointment of Christophe Hannequin as its new Chief Financial Officer. Current CFO Claus Bauer will remain in his role until August 31, 2025 with Hannequin assuming the role latest by October 1 next year, the company said.

Hannequin is currently CFO of the British JCB Group.

Schaeffler also named Thomas Stierle from Vitesco Technologies as head of its new E-Mobility division.

This comes ahead of Schaeffler's planned merger with Vitesco Technologies on October 1.

On Thursday, CEO Klaus Rosenfeld told German media that Schaeffler will implementjob cuts after the merger.

The two companies agreed to the takeover last November, with Schaeffler aiming to increase its focus on electric vehicle parts.

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