The chairman of the supervisory board of ZF Friedrichshafen AG, Dr. Franz-Josef Paefgen, and CEO Dr. Stefan Sommer have agreed Dr. Sommer will step down from office with immediate effect. Until a successor is appointed, Finance Board Member and CEO Deputy Representative, Dr. Konstantin Sauer (58), will assume the role of CEO on an interim basis.
ZF and Hella are entering into a strategic partnership. The automotive suppliers say they will benefit from cooperation on “sensor technology, particularly for front camera systems, imaging and radar systems”. ZF will further strengthen its portfolio as a systems supplier which offers both modern assistance systems and autonomous driving functions, whereas Hella will drive technological development and benefits from a broader market access. The first joint development project in camera technology will start immediately, with the objective of a market launch in 2020.
Knorr-Bremse AG has made a takeover offer for all shares in Haldex. Knorr-Bremse is offering 110.00 Swedish krone per Haldex share, 10.0 per cent higher than ZF Friedrichshafen AG’s offer of 100.00 krone per Haldex share.