A new automotive aftermarket division has been created within Schaeffler.
The company announced that its board decided to separate the automotive aftermarket from its automotive division, creating the new stand-alone group. The move is effective January 1, 2018.
As a result, Schaeffler will have three divisions – automotive aftermarket, automotive OEM and industrial.
Michael Soding has been appointed to the company’s board of managing directors, effective the same date and will oversee the aftermarket at the board level. He has been head of the aftermarket business under the automotive arm since 2009. The new division will be managed out of Langen, Germany, a suburb of Frankfurt.
“In the last years, Michael Söding has contributed significantly to successfully develop our automotive aftermarket business. With his experience and know-how across technological, operational and strategic issues he will enrich the executive board,” said Georg F. W. Schaeffler, chairman of the supervisory board at Schaeffler.