Overview
- The supervisory board ended Holger Klein’s contract by mutual agreement effective September 30 and appointed E‑Division head Mathias Miedreich as CEO from October 1; board member Peter Laier will also leave at month’s end.
- ZF reported a €195 million net loss in the first half of 2025 and carries about €10.5 billion in net liabilities, underscoring the pressure to act.
- The electrified‑drive unit remains the core problem, with options under review including a carve‑out or bringing in a partner, while negotiations with employee representatives are slated to conclude by the end of September.
- Management’s plan foresees about 11,000 to 14,000 job reductions in Germany by 2028, and Miedreich said he cannot completely rule out compulsory redundancies despite aiming for socially responsible measures.
- The move came during the IAA in Munich and surprised observers, as IG Metall and the Gesamtbetriebsrat indicated readiness to cooperate with the new leadership if the focus returns to employees, technology and customers.