Schaeffler won't extend contract of CEO Geissinger-report

Newswire

FRANKFURT, Sept 13 (Reuters) - German auto parts maker Schaeffler will not extend the contract of Chief Executive Juergen Geissinger, who engineered the leveraged takeover of three-times larger rival Continental AG, Manager Magazin Online reported. Owner Maria-Elisabeth Schaeffler felt Geissinger was "no man for the future", the website reported, citing what it said was his authoritarian management style. A spokesman for the ball bearings and clutch maker ...

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