Schaeffler Upgrades Automotive Aftermarket Business to Autonomous Division

Schaeffler AG has announced that it will be granting full divisional status to its automotive aftermarket business based on the growth that the business has experienced.

From 1 January 2018, the Schaeffler Group will have three separate divisions – Automotive OEM, Industrial and the newly-minted Automotive Aftermarket (AAM). The automotive aftermarket business will now function autonomously from its headquarters in Langen, Germany. As an outcome of this development, Michael Söding who has been overseeing the Automotive Aftermarket business from 2009 will be appointed to Schaeffler’s Board of Managing Directors.

While functioning as an autonomous division within Schaeffler, AAM will have greater leeway to make changes that are needed to improve the business and can implement them faster and more effectively.
The division will now focus on better development and delivery of its range of LuK, INA, FAG and Ruville repair solutions, and these solutions will be backed by Schaeffler’s outstanding service.
Commenting on the development, Klaus Rosenfeld, CEO of Schaeffler AG, , said that the decisions taken by the company’s Supervisory Board highlights the company’s ambitions to shape the future of Schaeffler Group in a highly competitive market place.

He added, “These steps will allow us to strengthen our global automotive aftermarket business, simplifying our structures and enabling faster decisions.”