ZF Electrified Powertrain lead Sebastian Schmitt appointed to board

Automotive supplier ZF Friedrichshafen is reshuffling its executive board. Against the backdrop of a rigorous restructuring program and persistent market challenges, Sebastian Schmitt - current head of the Electrified Powertrain division - is being appointed to the board. Meanwhile, CTO Peter Holdmann is departing.

The ZF Friedrichshafen AG board is set for another personnel change. From 1 September 2026, the Supervisory Board will appoint 44-year-old industrial engineer Sebastian Schmitt to the company’s top executive body. Schmitt, who has led the Electrified Powertrain Technologies Division (Division E) since November 2025, will now oversee this strategically critical business unit directly at the board level as well as take up additional responsibilities for the North and South American markets.

In contrast, current board member Dr. Peter Holdmann will leave the group by mutual agreement on 31 August 2026. As the company stated, Holdmann has decided not to extend his contract – which expires in August – for personal reasons. Holdmann’s career at the Lake Constance-based technology group spans over 26 years, during which he took over the leadership of the Chassis Solutions Division in May 2024 as part of a restructuring. Most recently, he also served as Chief Technology Officer (CTO), shaping the group’s technological direction.

However, Holdmann’s departure has a backstory. Manager Magazin reports that, according to insiders, Holdmann has recently become increasingly controversial among the workforce. Tensions are said to have frequently arose between the manager and the influential works council, particularly amid discussions regarding the struggling supplier’s stringent cost-cutting measures. With a turnover of €38.8 billion euros in 2025 and around 153,000 employees, ZF remains one of the global giants among automotive suppliers; however, the past financial year ended with an operating loss of €1.8 billion euros. This followed significant strains around the transition to electric powertrains, among other things. In January, ZF agreed with various customers to terminate several projects prematurely due to the slower-than-expected ramp-up of e-mobility, which had failed to achieve anticipated profitability.

Holdmann’s departure will lead to a redistribution of key responsibilities at the top of the group. Mathias Miedreich, who was appointed CEO in September 2025, will assume additional responsibility for the Chassis Solutions Division and the group-wide Research and Development portfolio. This move consolidates core technical areas under the CEO, despite Miedreich’s background being in business management rather than engineering. While Miedreich is internally valued for his quick grasp of complex issues, the appointment of Sebastian Schmitt to the board ensures that the electric powertrain division is once again directly represented at the executive level.

Supervisory Board Chairman Dr. Rolf Breidenbach paid tribute to the outgoing board member: “The Supervisory Board thanks Dr. Peter Holdmann for his commitment and steady leadership in integrating and developing the Chassis Solutions division.” At the same time, Breidenbach extended his best wishes to his successor: “Sebastian Schmitt knows the Electrified Powertrain Technology division inside out and helped the restructuring produce early results. The priority now is to maintain that progress.”

For new board member Schmitt and CEO Miedreich, the priority now is to consistently drive forward the automotive supplier’s far-reaching restructuring programme. Given ongoing market challenges, significant margin pressures on e-components, and job cuts – with 14,000 positions in Germany, including 7,600 in Division E, having been eliminated – stabilising the group operationally remains a monumental task.