There are enough construction sites at automotive supplier ZF Friedrichshafen. Mathias Miedreich will be able to try his hand at the biggest one starting next year: The supervisory board appointed the 49-year-old to the ZF board on Thursday. Starting in January 2025, Miedreich will be responsible for Division E at automotive supplier ZF Friedrichshafen.
The division is the nucleus of ZF's transformation towards electromobility – and at the same time one of the supplier's units where the problems are most serious. Insiders repeatedly report that ZF is making a loss on most of its e-projects. ZF CEO Holger Klein (54) confirmed in an interview at the beginning of July with manager magazin that the technology for electric drives is “predominantly not yet profitable”.
Klein remains convinced of the merits of electric mobility. Despite a turnover of 11.5 billion euros, Division E is facing a reorganization. Klein announced in the summer that the division would “review and improve its processes, procedures and structures with a particular focus,” and therefore also called for “openness to cooperation and strong partnerships.”
For Mathias Miedreich, these are not easy conditions to start with. Nevertheless, he has plenty of experience working for automotive suppliers. Miedreich has worked for Continental and Faurecia, among others, in the past. Between 2021 and May 2024, he was CEO of the battery recycler Umicore.
Source: Manager Magazin
