ZF Friedrichshafen Chief Executive Officer Dr Stefan Sommer has left the company with immediate effect. In a statement, the company has said that Sommer’s Deputy and Finance Board Member Dr Konstantin Sauer will lead the company until a successor is appointed.
“We would like to thank Dr Sommer for his long-standing, successful employment in the company. In his five years of service as the head of ZF, Dr Sommer has developed the company with tireless commitment and great vision,” Chairman of the ZF supervisory board Dr Franz-Josef Paefgen.
He added that the supervisory board will shortly name a successor.
“As the member of the Board of Management of ZF responsible for Finance, IT and M&A activities, Dr Konstantin (interim CEO) will guarantee the stability of the company and has our complete trust,” Dr Franz-Josef Paefgen further said.