Published by Global Banking & Finance Review®
Posted on September 11, 2025
1 min readLast updated: January 22, 2026
Add as preferred source on GoogleZF Friedrichshafen will replace CEO Holger Klein with Mathias Miedreich amid restructuring and job cuts, impacting thousands of positions.
FRANKFURT (Reuters) -German automotive supplier ZF Friedrichshafen will replace Chief Executive Holger Klein at the end of the month after he decided to step down early by mutual agreement, the company said on Thursday.
ZF, which is undergoing a restructuring that includes shedding thousands of jobs in response to the sluggish car industry, said that Klein's role would be taken over by the head of its electric drive division, Mathias Miedreich.
Klein, who has been CEO since 2023, said it was important to hand over the reins now so that the company could quickly reach decisions with employee representatives about its future.
ZF, which helps automakers develop gearboxes and hybrid drivetrains, said in July that it has cut 11,200 full-time positions since the beginning of 2024, and a further 4,700 people have signed partial retirement agreements or will enter regular retirement.
The CEO of ZF's commercial vehicle division, Peter Laier, is also leaving the company at the end of September, said ZF, citing "differing views on the future strategic direction."
(Reporting by Ilona Wissenbach, writing by Miranda Murray, editing by Thomas Seythal)
Holger Klein is stepping down by mutual agreement to allow the company to quickly reach decisions with employee representatives about its future.
ZF Friedrichshafen is undergoing a restructuring that includes shedding thousands of jobs in response to the sluggish car industry.
The head of ZF's electric drive division will take over Holger Klein's role as CEO at the end of the month.
Since the beginning of 2024, ZF has cut 11,200 full-time positions and an additional 4,700 people have signed partial agreements.
Peter Laier, the CEO of ZF's commercial vehicle division, is leaving due to differing views on the future strategic direction of the company.
Explore more articles in the Finance category
