Dr Stefan Sommer has stepped down from his role as chief executive officer at ZF with immediate effect. The 54-year-old was appointed to the company’s executive board in 2010. Until a successor is appointed, finance board member, Dr Konstantin Sauer, will assume the role.
“We would like to thank Dr Sommer for his long-standing, successful employment in the company,” said Dr Franz-Josef Paefgen, chairman of the ZF supervisory board. “In his five years of service as the head of ZF, Dr Sommer has developed the company with tireless commitment and great vision.”
“The supervisory board will shortly name a successor, and until then deputy CEO Dr Konstantin Sauer will assume the position at the head of the company,” added Paefgen. “As a member of the board of management and responsible for our Finance, IT and M&A activities, he will guarantee the stability of the company and has our complete trust.”