ISIN:DE000SHA0159

EQS-News: Schaeffler AG and Vitesco Technologies Group AGSign Business Combination Agreement

Retrieved on: 
Donnerstag, Dezember 21, 2023

Integration committee with equal representation to steer the integration process; first meeting already scheduled for this year

Key Points: 
  • Integration committee with equal representation to steer the integration process; first meeting already scheduled for this year
    Swift completion of the overall transaction envisaged; Schaeffler and Vitesco will be stronger together
    Herzogenaurach | November 27, 2023 | Schaeffler AG (“Schaeffler”) today entered into a Business Combination Agreement (“BCA”) with Vitesco Technologies Group AG (“Vitesco”) to jointly create a leading Motion Technology Company.
  • Under the BCA, Vitesco will constructively support the overall transaction including the ongoing public tender offer by Schaeffler and the subsequent merger of Vitesco with Schaeffler.
  • In the best interest of the combined company, Schaeffler and Vitesco will strive to achieve both, revenue and cost synergies.
  • The subsequently planned merger of Vitesco Technologies Group AG into Schaeffler AG will in turn require the approval of the respective Annual General Meetings of both companies.

EQS-News: European Investment Bank finances research and development of sustainable technologies at Schaeffler AG

Retrieved on: 
Donnerstag, Dezember 21, 2023

Funding of research and development expenses for innovative technologies in the automotive and industrial sectors with a focus on renewable energies, electric mobility, and hydrogen

Key Points: 
  • Funding of research and development expenses for innovative technologies in the automotive and industrial sectors with a focus on renewable energies, electric mobility, and hydrogen
    Herzogenaurach, Germany | December 21, 2023 | The European Investment Bank (EIB) has granted Schaeffler AG a loan of 420 million euros.
  • These funds with a term of up to ten years are earmarked for research and development in selected areas, with a focus on sustainable technologies in the European Union.
  • The funding will be used to cover part of the staff costs for research and development of innovative automotive and industrial technologies.
  • The European Investment Bank is also an ideal partner for putting our research and development financing for sustainable technologies on a broad footing.

EQS-News: Klaus Rosenfeld to remain CEO of Schaeffler AG for a further five-year term

Retrieved on: 
Mittwoch, Dezember 20, 2023

Herzogenaurach, Germany | December 15, 2023 | At its meeting today, the Supervisory Board of Schaeffler AG resolved to reappoint Klaus Rosenfeld (57) as Chief Executive Officer for a further five-year term.

Key Points: 
  • Herzogenaurach, Germany | December 15, 2023 | At its meeting today, the Supervisory Board of Schaeffler AG resolved to reappoint Klaus Rosenfeld (57) as Chief Executive Officer for a further five-year term.
  • In June 2014, he was appointed permanent CEO of Schaeffler AG, whose IPO took place under his leadership in October 2015.
  • With the Roadmap 2025, Klaus Rosenfeld laid the foundation in 2020 for the further development of Schaeffler AG to become a leading motion technology company.
  • Georg F. W. Schaeffler, Family Shareholder and Chairman of the Supervisory Board of Schaeffler AG, said: “Klaus Rosenfeld stands for continuity and progress in equal measure.

EQS-News: Schaeffler AG has secured 29.88 percent of Vitesco Technologies Group AG with its public tender offer

Retrieved on: 
Mittwoch, Dezember 20, 2023

Completion of tender offer and payment of consideration on January 5, 2024

Key Points: 
  • Completion of tender offer and payment of consideration on January 5, 2024
    Extraordinary General Meeting and separate meeting of non-voting common shareholders on February 2, 2024, as next step
    Herzogenaurach | December 20, 2023 | Schaeffler AG (“Schaeffler”) has announced the final result of the voluntary public tender offer (“tender offer”) for all outstanding shares of Vitesco Technologies Group AG (“Vitesco”).
  • Klaus Rosenfeld, CEO of Schaeffler AG, said: “We are very pleased with the result of the tender offer.
  • From January 5, 2024, Schaeffler AG will hold a stake of around 30 percent in Vitesco Technologies Group AG.
  • This publication is for information purposes only regarding the voluntary public tender offer (the “Offer”) of Schaeffler AG (“Schaeffler”) for all shares of Vitesco Technologies Group AG (“Vitesco” or the “Company”) and does not constitute a solicitation to sell or an offer to buy any of the securities of Vitesco.

EQS-News: Schaeffler AG appoints Dr. Astrid Fontaine as Chief Human Resources Officer

Retrieved on: 
Sonntag, Dezember 3, 2023

Georg F. W. Schaeffler wants to thank Corinna Schittenhelm, who did not extend her contract after two terms in office

Key Points: 
  • Georg F. W. Schaeffler wants to thank Corinna Schittenhelm, who did not extend her contract after two terms in office
    Herzogenaurach, Germany | November 20, 2023 | The Supervisory Board of Schaeffler AG has appointed Dr. Astrid Fontaine as Chief Human Resources Officer and as a full member of the Board of Managing Directors of Schaeffler AG, effective January 1, 2024.
  • Dr. Fontaine has extensive and long-term international experience in the HR departments of well-known major automobile manufacturers.
  • Dr. Astrid Fontaine is coming to Schaeffler from the Volkswagen Group, where she was most recently responsible for “People & Transformation” on the Board of Management at Volkswagen Commercial Vehicles since September 2021.
  • Dr. Fontaine, who has both German and US citizenship, holds multiple Supervisory Board mandates within the Volkswagen Group.