The supervisory board of ZF Friedrichshafen AG confirmed it has extended the contract of CEO Dr. Stefan Sommer for another five years. This move, the company said, allows it to sustainably implement its ZF Strategy 2025.
“I am particularly delighted that our supervisory board members endorsed our CEO so strongly,” said Prof. Dr. Giorgio Behr, chairman of the ZF supervisory board. “In the course of the last years, under the umbrella of Dr. Stefan Sommer, ZF’s Board of Management successfully prepared the company to adapt to the changing automotive industry and mobility landscape. Here, the acquisition of TRW was the strategic masterpiece per se. Now it is about consistently pushing the ZF Strategy 2025. Thanks to our decision today, the Supervisory Board laid the ground for this undertaking.”
Sommer has been chief executive officer of ZF Friedrichshafen AG since May 2012. In mid-2008, Sommer started at ZF Sachs AG where he was appointed head of the Suspension Division. In October 2010, ZF’s supervisory board nominated him member of the board of management responsible for Materials Management.
Prior to his ZF career, he held several management positions at automotive suppliers ITT Automotive and Continental.