Schaeffler CFO Pushed Out By Banks

Schaeffler chief financial officer, Thomas Hetmann, will reportedly resign from the automotive supplier at the instigation of the group’s creditor banks. According to various news reports emanating from the Financial Times Deutschland, the 46-year-old is negotiating the contractual conditions of his departure. In addition, the creditors have reportedly formed a crisis task force and have requested that Deloitte produces an independent picture of the company’s financial situation.