Schaeffler has appointed Norbert Indlekofer and Peter Pleus, currently business division heads of Schaeffler Automotive, to its executive board.

They will jointly lead the automotive division, with Indlekofer responsible for the transmission systems and automotive aftermarket business operation.

Indlekofer also takes over responsibility for research & development within Schaeffler Automotive.

Pleus will lead the engine systems and chassis systems business areas, while also heading global key account management.

Wolfgang Dangel, currently head of the automotive division, will leave the operation at his own request at the end of the year to "pursue new professional challenges," according to the company.

"We are pleased to appoint two such experienced automotive experts to the executive board, who have successfully led the most important areas of our automotive division for more than ten years," said Schaeffler chairman, Georg Schaeffler.

"The new joint leadership of the automotive division also reflects the high importance of this business area within Schaeffler Group."