German transmission specialist, ZF Friedrichshafen, confirmed a recent change in leadership, with a successor pending appointment.
ZF Chairman – Supervisory Board, Dr Franz-Josef Paefgen and ZF CEO, Dr Stefan Sommer have agreed to end their cooperation, with Sommer leaving the company.
ZF Finance Board Member and CEO – Deputy Representative, Dr Konstantin Sauer will assume the role of CEO on an interim basis.
“We would like to thank Dr Sommer for his long-standing, successful employment in the company,” said Paefgen.
“In his five years of service as the head of ZF, Dr Stefan Sommer has developed the company with tireless commitment and great vision.
“The supervisory board will shortly name a successor, and until then, CEO Deputy Dr Konstantin Sauer will assume the position at the head of the company on an interim basis. As member of the Board of Management of ZF responsible for Finance, IT and M&A activities, he will guarantee the stability of the company and has our complete trust,” he said.
(Image L-R: Dr Stefan Sommer and Dr Konstantin Sauer.)