ZF CEO, Stefan Sommer has stepped down with immediate effect with no reason for the sudden rupture given by the German supplier.
The Friedrichshafen component giant confined itself only to noting the departure was a "separation agreed by consensus," with Sommer's deputy, Konstantin Sauer leading the company on an interim basis until a successor is appointed.
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"We would like to thank Dr Sommer for his long-standing, successful employment in the company," said a brief statement from ZF chairman, Franz-Josef Paefgen.
"In his five years of service as the head of ZF, Stefan Sommer has developed the company with tireless commitment and great vision.
"The supervisory board will shortly name a successor and until then, CEO deputy, Konstantin Sauer will assume the position at the head of the company on an interim basis.
"As member of the Board of Management of ZF responsible for Finance, IT and M&A activities, he will guarantee the stability of the company and has our complete trust."
Sommer's sudden exit comes shortly after ZF finalised its integration with US supplier, TRW, with all divisions now represented using the German supplier's name two and a half years after the acquisition was announced.
