Schaeffler AG has announced that its automotive aftermarket business will be upgraded to full divisional status following a prolonged period of growth.
Effective from the 1st January 2018, the Schaeffler Group will comprise of three separate divisions – Automotive OEM, Industrial and the newly-created Automotive Aftermarket (AAM) – which will be run autonomously within Schaeffler from its headquarters in Langen, Germany.
The move has led to the internal appointment of Michael Söding to the Board of Managing Directors, who has been the President of the Automotive Aftermarket business unit since 2009.
As an autonomous division within Schaeffler, AAM will be given more momentum to proceed with necessary improvements and changes faster and more effectively – for the benefit of its customers, including those in the UK.
Schaeffler UK Managing Director, Nigel Morgan, explained why the British AAM organisation will also benefit from this strategic move: “We will remain an ambitious and reliable partner to the UK Aftermarket, but this improved position within the Schaeffler group will allow us to become more efficient at developing and delivering our fantastic range of LuK, INA, FAG and Ruville repair solutions, all backed-up by the unrivalled levels of service that our customers have come to expect.”
CEO of Schaeffler AG, Klaus Rosenfeld, said: “The decisions taken by our Supervisory Board underline the ambitions we have in shaping the future of Schaeffler Group in an ever-evolving and competitive marketplace.
“These steps will allow us to strengthen our global automotive aftermarket business, simplifying our structures and enabling faster decisions.”