Fresh Take: Former Hella CEO, Rolf Breidenbach, takes over Supervisory Board at Struggling Auto Giant, ZF Friedrichshafen
- Former Hella executive, Breidenbach, appointed as Chair of ZF's Supervisory Board
Times are tough for the automotive supplier, ZF. Amidst their current turbulence, they've surprised everyone with an unexpected shift in leadership. Effective immediately, Rolf Breidenbach, the former CEO of Hella, an automotive supplier, steps into the hot seat as the new head of the supervisory board, as announced by the company in Friedrichshafen, nestled on the shores of Lake Constance. Breidenbach, now 62, replaces Heinrich Hiesinger, who had been in the position for an impressive three-year tenure. The newcomer has been a member of the supervisory board since March 2023.
ZF, a company predominantly owned by the Zeppelin Foundation, is run by the mayor of Friedrichshafen. Hiesinger signaled to the newly elected independent mayor Simon Blümcke that he would not be seeking another term due to personal life commitments, as the company confirmed. Crucial decisions for ZF's future won't be made in full by March 2028.
"To sidestep a mid-transformation leadership change and establish a long-term solution early, Hiesinger offered to hand over his duties ahead of schedule," the company stated.
Thursday will see the publication of ZF's 2024 figures. Media whispers have been buzzing, hinting at the potential spin-off of ZF's core division, the "E-Division." The Foundation has vehemently denied these claims and instead stated that they are preparing their powertrain division for possible partnerships with fellow companies.
The company is a heavyweight in the automotive sector, boasting a workforce of approximately 169,000 people worldwide. In the coming years, ZF plans to trim up to 14,000 jobs in Germany as the industry grapples with economic downturn and sluggish demand, particularly for electric vehicles.
- Auto Giant in Crisis: ZF Friedrichshafen AG, a leading player in the automotive industry, specializing in components for automobiles and industrial sectors, is facing a difficult phase.
- New Boss: Rolf Breidenbach, a former CEO from Hella, now heads the Supervisory Board at ZF.
- Mid-Transformation Shift: Breidenbach steps into office as Heinrich Hiesinger, the long-standing Supervisory Board Chair, offers to relinquish his office prematurely to avoid a mid-transformation leadership change.
- Future Plans: ZF is considering various partnerships for its powertrain division to brace for the future. Rumors swirled about a potential spin-off of their "E-Division," but the Foundation has denied these claims.
- Industry Woes: The automotive industry grapples with economic slumps and stagnant demand, particularly for electric vehicles. The ongoing crisis calls for significant changes and adaptations in the sector.
- As the automotive industry grapples with economic downturn and sluggish demand, particularly for electric vehicles, ZF Friedrichshafen AG, a leading player in the sector, is undergoing a difficult phase.
- In a bid to establish a long-term solution and avoid a mid-transformation leadership change, the former CEO of Hella, Rolf Breidenbach, has been appointed as the new head of the Supervisory Board at ZF, replacing Heinrich Hiesinger who offered to relinquish his office prematurely.
- In the face of Industry woes, ZF is exploring potential partnerships for its powertrain division, denying rumors of a potential spin-off of their "E-Division," while preparing for possible adaptations, such as job trimming up to 14,000 in Germany.
