Klaus Rosenfeld New Schaeffler CFO

The Schaeffler Group has appointed Klaus Rosenfeld (42) to the company’s executive management board (effective 18 March 2009) where he will assume the post of chief financial officer (CFO). Prior to joining Schaeffler, Klaus Rosenfeld was a member of the management board of Dresdner Bank AG from 2002 and was responsible for the areas Finance/Controlling, Compliance und Corporate Investments.

According to Reuters Rosenfeld is had been expected to step down from Dresdner Bank following its takeover by Commerzbank earlier this year. Rosenfeld replaces Thomas Hetmann (46) who the company announced was stepping down on 18 February. Schaeffler Group thanked Mr. Hetmann for his “hard work and dedication to the company.”

“With Klaus Rosenfeld, we have gained an esteemed and widely recognized expert, whose expertise in finance will make a significant contribution to setting the future course of the Schaeffler Group in a challenging environment”, said Dr. Juergen M. Geissinger, president and CEO of the Schaeffler Group.