kscarbel2 Posted November 30, 2017 Share Posted November 30, 2017 Automotive News - Reuters / November 29, 2017 FRANKFURT -- Germany's ZF Friedrichshafen, the world's second-largest auto [and commercial truck] supplier, said on Wednesday that its supervisory board chairman , Giorgio Behr, was stepping down. A company spokesman said Behr was giving four weeks' notice, but declined to comment further. Germany's Handelsblatt newspaper earlier reported Behr's departure, saying the move was due to a power struggle between Behr and the company's owners over strategy after they blocked a takeover of U.S. commercial truck parts supplier Wabco Holdings. The Friedrichshafen-based supplier wants to cut its dependence on combustion-engine cars, and has sought to build up its expertise in components for autonomous and electric vehicles. Earlier this year, ZF took a 40 percent stake in German lidar maker Ibeo Automotive and made an unsuccessful $515 million bid for Swedish brake systems group Haldex. ZF ranks No. 2 on the Automotive News list of the top 100 global suppliers with worldwide sales to automakers of $38.46 billion during its 2016 fiscal year. Quote Link to comment Share on other sites More sharing options...
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