Christoph Beumelburg Senior Vice President Communications, Marketing and Investor Relations In today’s meeting, the Supervisory Board of Schaeffler AG appointed Matthias Zink (46), Global Head of the business division 'Transmissions Systems', as a member of the Executive Board of Schaeffler AG as of January 1, 2017. Matthias Zink will succeed Norbert Indlekofer (58), whose contract was not extended at his own request. Norbert Indlekofer will leave the company on December 31, 2016 and will continue to perform his role as Co-CEO of the Automotive division until that time. The Supervisory Board has also decided to extend the contract of Prof. Dr. Peter Pleus (61), also Co-CEO of the Automotive division, by a further 2 years until December 31, 2018. With regard to these changes, Georg F. W. Schaeffler, Chairman of the Supervisory Board of Schaeffler AG said: “We are delighted to have appointed Matthias Zink, a top talent from the Schaeffler Group, to the Executive Board of Schaeffler AG. This is an important signal. At the same time the agreed succession model ensures continuity. Mr. Indlekofer will continue to carry out his duties in his usual energetic manner until the end of the year.”