The ZF Friedrichshafen AG board is set for another personnel change. From 1 September 2026, the Supervisory Board will appoint 44-year-old industrial engineer Sebastian Schmitt to the company’s top executive body. Schmitt, who has led the Electrified Powertrain Technologies Division (Division E) since November 2025, will now oversee this strategically critical business unit directly at the board level as well as take up additional responsibilities for the North and South American markets.
In contrast, current board member Dr. Peter Holdmann will leave the group by mutual agreement on 31 August 2026. As the company stated, Holdmann has decided not to extend his contract – which expires in August – for personal reasons. Holdmann’s career at the Lake Constance-based technology group spans over 26 years, during which he took over the leadership of the Chassis Solutions Division in May 2024 as part of a restructuring. Most recently, he also served as Chief Technology Officer (CTO), shaping the group’s technological direction.
However, Holdmann’s departure has a backstory. Manager Magazin reports that, according to insiders, Holdmann has recently become increasingly controversial among the workforce. Tensions are said to have frequently arose between the manager and the influential works council, particularly amid discussions regarding the struggling supplier’s stringent cost-cutting measures. With a turnover of €38.8 billion euros in 2025 and around 153,000 employees, ZF remains one of the global giants among automotive suppliers; however, the past financial year ended with an operating loss of €1.8 billion euros. This followed significant strains around the transition to electric powertrains, among other things. In January, ZF agreed with various customers to terminate several projects prematurely due to the slower-than-expected ramp-up of e-mobility, which had failed to achieve anticipated profitability.
