ZF’s Chairman Resigns in Power Struggle

Reports say a power struggle has prompted Giorgio Behr, chair of the supervisory board at ZF Friedrichshafen AG, to tender his resignation, effective in four weeks.

Handelsblatt reported earlier today that Behr is quitting because of a fight with the privately held company’s owners over strategy after they blocked a plan to buy Wabco Holdings Inc., a suburban Detroit-based supplier of electronic stability and transmission control systems for heavy-duty trucks.

ZF has been on an acquisition and partnering binge to bolster its capabilities in automated and drive-assist systems.