Schaeffler AG has announced that Klaus Deller has been appointed as its new Chief Executive Officer. He will assume his new position on July 1, 2014.

Klaus Deller has been a Member of the Board of Directors at Knorr-Bremse AG with responsibility for Commercial Vehicle Systems since 2009. Prior to that, he held senior positions at automotive suppliers Brose and Bosch.

Georg F. W. Schaeffler, Chairman of the Supervisory Board at Schaeffler AG, said, “Klaus Deller is an exceptional leader with substantial experience in the automotive supplier industry. We are convinced that under his leadership, we will be able to further strengthen our position as the technology leader in automotive and industrial applications.”

Schaeffler will continue to be led by Klaus Rosenfeld as Chief Executive Officer until July 1. With Klaus Deller’s arrival, Klaus Rosenfeld will become Deputy CEO of Schaeffler and will focus once more on his responsibilities as Chief Financial Officer. Klaus Rosenfeld will become the only non-family member to join the board of INA-Holding Schaeffler GmbH & Co KG, which holds the Schaeffler family’s participations in Continental AG and Schaeffler Group.

Georg F. W. Schaeffler said, “Klaus Rosenfeld has made a major contribution to our company over the past years. Following the leadership change in October 2013, he realigned the organizational and management structure of our company and initiated a cultural change in terms of leadership and communications. With his appointment as Deputy CEO of Schaeffler AG and as Member of the Board of INA-Holding, we honour his outstanding performance and commitment to our company.”