ZF Friedrichshafen says it will introduce a new concept for its board of management next year, with the former separation of responsibilities for corporate functions and
divisions eliminated.

The number of members of the board of management will be reduced from eight to six due to the retirement of Reinhard Buhl and Gerhard Wagner.

Former CEO, Michael Hankel, of ZF Lenksysteme, will be a new member of ZF's
board of management, while Peter Ottenbruch, ZF board member responsible for Technology, will take over his responsibility at ZF Lenksysteme.

"With the new board of management concept, we significantly extend the areas of responsibility for the members of ZF's board of management," said supervisory board chairman, Giorgio Behr. "The strategic alignment of the board of management functions gains more importance.

"Furthermore, we want to have a more intensive network and cooperation within the entire ZF Group to manage growth in a better way".

The members of the board of management members, Reinhard Buhl, responsible for the Chassis Technology Division, and Gerhard Wagner, responsible for the Powertrain Technology Division, will leave the company in 2013 to retire.