Automotive supplier ZF has found a successor for Stephan von Schuckmann: Former Umicore CEO Mathias Miedreich will become the new Board of Management member for the Electrified Powertrain Technologies division from 1 January 2025.
The Friedrichshafen-based company had already been searching for a new head of the division since July, when CEO Stephan von Schuckmann announced his resignation for personal reasons. CEO Holger Klein then took over temporary management of the division, which is ZF’s strongest division in terms of sales.
The divisional name ‘Electrified Drive Technologies’ is somewhat misleading, as the division also includes conventional drive systems: The division encompasses all of ZF’s passenger car drives, ranging from combustion engines to plug-in hybrids and battery-electric drives. ZF does not reveal which of the three drive types contributed how much to the division’s sales of 11.5 billion euros. However, a press spokesperson told elective: “As the BEV business is the “youngest child” and is in the process of ramping up, transmissions for combustion engines and PHEVs account for a larger share.”
However, ZF has already admitted to problems earning money with electric drives: CEO Klein confirmed to the German business paper manager magazin in the summer that the technology for electric drives is ‘predominantly not yet profitable’. According to the report, the division is about to undergo a reorganisation: “Workflows, processes and structures will be reviewed and improved with a particular focus,” Klein announced in manager magazin in the summer and therefore also called for “openness to cooperation and strong partnerships.”
A big task for the new man on board. Mathias Miedreich is 49 years old, has a degree in business administration and brings management experience from the automotive suppliers Continental and Faurecia. Most recently, he spent three years as CEO of Umicore, a global specialist in materials technology and the circular economy based in the Belgian metropolis of Brussels.
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