Schaeffler has announced that Maria-Elisabeth Schaeffler-Thumann has decided to step down from the Supervisory Board at the end of the Annual General Meeting on April 20, 2023 for reasons of age. "The last three decades of my life have been characterized by my commitment to the Schaeffler company and the large Schaeffler family. I will remain closely associated with the company as a shareholder in the future and am happy to leave an orderly house to the next generation," the 81-year-old commented on her decision.

Georg F. W. Schaeffler, Chairman of the Supervisory Board, said: "My mother's tireless commitment through the highs and lows of the company was decisive in making Schaeffler one of the world's leading technology companies today, predominantly in family hands. We owe her an immense amount and wish her all the best."

At its meeting on February 24, the Supervisory Board unanimously decided to award Ms. Schaeffler-Thumann the title of Honorary Member of the Supervisory Board of Schaeffler AG following her term of office.

A successor is to be elected at the Annual General Meeting. The Supervisory Board proposes Katherina Reiche, Chairwoman of the Board of Management of Westenergie AG. Reiche was a member of the German Bundestag from 1998 to 2015, during which time she was Parliamentary State Secretary to the Federal Minister for the Environment, Nature Conservation and Nuclear Safety from 2009 to 2013. From 2015 to 2019, Reiche headed the Association of Municipal Enterprises until she took up her current position at Westenergie AG in 2020. Since 2019, she has held the honorary position of Chairwoman of the Federal Government's National Hydrogen Council.