The Managing Board of Directors of the Schaeffler Group has appointed Dr. Chen Yu as the new President Automotive of Schaeffler Greater China considering the strong growth momentum of the automotive business in the Greater China region. Dr. Chen will jointly manage the automotive business with Yang Hanbing, the in-cumbent President Automotive Schaeffler Greater China. Meanwhile, the Managing Board of Directors of the Schaeffler Group also appointed Dr. Liu Yong as CTO of Schaeffler Greater China and a member of the Schaeffler Greater China Manage-ment Board. The two appointments came into effect from September 1, 2016.

Dr. Chen Yu, currently a member of the China Management Board, CTO of Schaeffler Greater China and Vice President of Engine System at Automotive Divi-sion, will continue to be a member of the China Management Board and jointly manage the automotive business from September 1, together with Mr. Yang Han-bing, current CEO Automotive Greater China.. Based on the dual-CEO system of automotive at the headquarters of the Schaeffler Group, Mr. Yang Hanbing will take responsibility for Transmission Systems, Automotive Aftermarket, Key Account Management and Automotive R&D, while Dr. Chen will be responsible for Engine Systems and Chassis Systems. They will report to the CEO of Schaeffler Greater China and the corresponding CEOs of Schaeffler headquarters respectively. With a doctorate in Mechanical Engineering from Purdue University, Dr. Chen worked for the United Technologies Corporation before he joined Schaeffler.

Dr. Liu Yong, currently the head of Central Engineering Schaeffler Greater China, will become the CTO of Greater China and a member of the China Management Board from September 1. Dr. Liu will report to the CEO of Schaeffler Greater China and the CTO of the Schaeffler Group. With a doctorate in Engineering from the Universi-ty of Karlsruhe, Dr. Liu Yong worked in Bosch GmbH before he joined Schaeffler.

The Board of Directors of the Schaeffler Group thank Mr. Yang Hanbing, Dr. Chen Yu and Dr. Liu Yong for their excellent contributions in their current positions and wish Dr. Chen Yu and Dr. Liu Yong even greater success in their new roles.