kscarbel2 Posted November 30, 2017 Share Posted November 30, 2017 Automotive News - Reuters / November 29, 2017 FRANKFURT -- Germany's ZF Friedrichshafen, the world's second-largest auto [and commercial truck] supplier, said on Wednesday that its supervisory board chairman , Giorgio Behr, was stepping down. A company spokesman said Behr was giving four weeks' notice, but declined to comment further. Germany's Handelsblatt newspaper earlier reported Behr's departure, saying the move was due to a power struggle between Behr and the company's owners over strategy after they blocked a takeover of U.S. commercial truck parts supplier Wabco Holdings. The Friedrichshafen-based supplier wants to cut its dependence on combustion-engine cars, and has sought to build up its expertise in components for autonomous and electric vehicles. Earlier this year, ZF took a 40 percent stake in German lidar maker Ibeo Automotive and made an unsuccessful $515 million bid for Swedish brake systems group Haldex. ZF ranks No. 2 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $38.46 billion during its 2016 fiscal year. Quote Link to comment https://www.bigmacktrucks.com/topic/51814-zf-chairman-resigns-amid-report-of-power-struggle/ Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.