page_title: Juergen M. Geissinger
section_title: Global markets
hierarchical_section_title: Juergen M. Geissinger / Career / Schaeffler AG / Global markets
caption_attribution_description: English: Prof. Dr. Wan Gang and Dr. Juergen M. Geissinger, Schaeffler AGDeutsch: Prof. Dr. Wan Gang und Dr. Juergen M. Geißinger, Schaeffler AG
context_page_description: Jürgen M. Geissinger is a German technology business executive and Chief Executive Officer of Senvion S.A., a Hamburg based wind turbine manufacturer. Geissinger is best known for his role as the Chief Executive of Schaeffler Technologies AG & Co. KG, a technology conglomerate known for its bearing solutions and precision components for engine and transmission systems for automotive, as well as industrial and aerospace applications. During Geissinger’s tenure as CEO, annual sales have risen more than fivefold. Schaeffler AG, employing over 76,000 people across 180 locations in 50 countries, with annual sales of $14 billion, is also the controlling shareholder of Continental AG with 49.9% of its shares.
  Labor unions have labeled Geissinger a tough negotiator for saving costs. The German business magazine Capital portrayed him as a "comeback kid" after he overcame the challenge posed by the difficult takeover maneuver in 2008 of Continental AG that found itself in peril once Lehman Brothers collapsed and global financial markets were sent into turmoil. He holds a doctorate in engineering from the Fraunhofer Institute.
context_section_description: The Financial Times characterized Geissinger's strategy for Schaeffler as highly global, with almost three-quarters of its revenues coming from outside Germany. Geissinger said, "Asia is now close to 25 per cent of our turnover and it’s going in the direction of 30 per cent. We are increasingly developing the company to make it a series of hubs – making items in a specific region for that region. We now have more than 40 R&D centres around the world – with one of the biggest being in China."
  While Schaeffler set up operations in China in 1995, Geissinger greatly expanded those and currently employs around 5,000 workers in seven manufacturing plants and offices. During a 2011 visit from China's Minister of Science and Technology Prof. Wan Gang, Geissinger said, "In view of the growing demand from the Chinese vehicle industry for innovative suppliers, Minister Wan Gang's visit is a signal for the future. Our systems expertise in electric mobility makes our company an active partner in the shaping of this sector."
  On 10 June 2013, Geissinger presided over a groundbreaking ceremony in Ulyanovsk for Schaeffler's first production facility in Russia. The new plant went online in 2014 and produces automotive and industrial components.
caption: Geissinger with China's Minister of Science and Technology, Prof. Wan Gang (May 2011)
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