Maria-Elisabeth Schaeffler (born 17 August 1941) is a German businesswoman and one of the owners of Schaeffler Group, one of the world's largest producers of rolling bearings. The other owner is her son Georg F. W. Schaeffler.
Early life Schaeffler was born in Prague in 1941, which was then in the Protectorate of Bohemia and Moravia, and grew up in Vienna, Austria.
Career In 1963, Schaeffler married Georg Schaeffler, and moved to Herzogenaurach in Franconia, which is located within Bavaria. It was through Schaeffler's marriage that she would come to work for Schaeffler Group AG. In 1996 Georg died, and she took the reins of the family business.Press Releases: Maria-Elisabeth Schaeffler receives "Großer Tiroler Adler"-medal from the state of Tyrol; Schaeffler AG; 25 October 2011
It has been Schaeffler's legacy to continue with her husband's life's work, growing the family business, Schaeffler Group AG. Since 1996 Schaeffler has led her company through multiple acquisitions, including: INA, LUK, and FAG. These three companies in particular are large brand name corporations in making rolling bearings. These three acquisitions have made Schaeffler Group AG one of the largest producers of rolling bearings and linear motion products in the World.Owners: Maria-Elizabeth Schaeffler; Schaeffler AG; 2014
In 1999, Schaeffler led the acquisition of the remaining shares of LuK, a clutch manufacturer, obtaining 50% of the shares of the company for Schaeffler Group AG. Schaeffler Group already owned 50% of the LuK shares. In 2001 she led the acquisition of FAG Kugelfischer Georg Schäfer AG Schweinfurt, with the acquisitions of FAG and INA, Schaeffler Group AG had become the second largest producer of rolling bearings in the World. In 2009 Schaeffler Group purchased a significant share of the company Continental AG.Press Releases: Maria-Elisabeth Schaeffler named Family Business Woman of the Year; Schaeffler AG; 7 January 2013
Since 1996, Schaeffler Group AG has seen an increase in annual turnover and employment. By 2013 the annual turnover reached approximately 10 billion euros, and the employment tripled to over 70,000 employees.Press Releases: Bavarian Order of Merit for Maria-Elisabeth Schaeffler; Schaeffler AG; 17 July 2003
Political activities Schaeffler served as a CSU delegate to the Federal Convention for the purpose of electing the President of Germany in 2004.Wahl der bayerischen Delegierten zur 12. Bundesversammlung Landtag of Bavaria, press release of 17 March 2004. During the Hannover Messe in April 2016, she was among the 15 German corporate leaders who were invited to a private dinner with President Barack Obama.Hans von der Burchard (25 April 2016), POLITICO Pro's Morning Trade: Breaking bread with the president Politico Europe.
Other activities Corporate boards Deloitte Germany, Member of the advisory board (2009–2018)Advisory Board Deloitte. Austrian State and Industrial Holding (ÖIAG), Member of the supervisory board (2008–2014) Deutsche Bank, Member of the European Advisory Board (2005–2014)2006 Annual Report: Advisory Boards Deutsche Bank. BayernLB, Member of the supervisory board (-2014)2013 Annual Report BayernLB. Nürnberger Lebensversicherung AG, Member of the supervisory board (2012–2013)
Non-profit-organizations Deutsches Museum, Member of the Board of TrusteesBoard of Trustees Deutsches Museum. Mozarteum University of Salzburg, Member of the Advisory BoardBoard of Trustees Mozarteum University of Salzburg. Salzburg Easter Festival, Member of the Board of TrusteesActive Members in the Patron's Association Salzburg Easter Festival. Konzertgesellschaft München, Member of the Board of Trustees (2002–2018)Board of Trustees Konzertgesellschaft München.
Recognition Schaeffler has been given many awards and accolades, including the following: 2001 - Cross of Merit with Ribbon of the Order of Merit of the Federal Republic of Germany 2001 - Medal of Honor by the Nuremberg Chamber of Commerce for the Mid-Franconian region 2002 - Honorary citizen of the town of Höchstadt/Aisch 2003 - Bavarian Order of Merit 2004 - "Family Entrepreneur of the Year" award, presented by the economics magazine "impulse" and the "INTES Akademie für Familienunternehmen" (INTES Academy for Family-Owned Companies) 2005 - Honorary Member of the Senate of the Transylvania University of Brasov, Romania 2005 - Honorary citizen of the town of Jeonju, Jeollabuk-Do province, Korea 2006 - Honorary citizen of the town of Herzogenaurach Entry in the "Golden Book" of the Erlangen-Höchstadt district 2007 - Large Silver Medal with Star for Services to the Republic of Austria 2007 - 1st Class Cross of Merit of the Order of Merit of the Federal Republic of Germany 2007 - Karmarsch Medal 2011 - "Großer Tiroler Adler" medal 2011 - "Personality of the Year" award presented by the ÖkoGlobe-Institut of Duisburg-Essen University 2012 - "Gold medal of the District" for the Erlangen-Höchstadt district 2013 - "Family Entrepreneur of the Year award, 2012", selected by a jury of representatives of German industry and HandelsblattPress Releases: Maria-Elisabeth Schaeffler receives ÖkoGlobe 2011 award for Personality of the Year; Schaeffler AG; 12 September 2011
Misuse of her name in scam activities There are many reported cases of advance-fee scam where fraudulous emails are sent to the recipient claiming that Maria-Elisabeth Schaeffler wanted to donate them a high sum of money.
References
Bibliography Press Releases: Maria-Elisabeth Schaeffler receives the Karmarsch Medal from the Association of Friends of Hanover University; Schaeffler AG; 3 December 2007 Press Releases: Maria-Elisabeth Schaeffler is awarded the Cross of Merit, 1st Class of the Order of Merit of the Federal Republic of Germany for special services to the nation; Schaeffler AG; 5 October 2007 AND SOCIAL COMMITMENT OF THE BUSINESSWOMAN FROM HERZOGENAURACH Maria-Elisabeth Schaeffler Receives German Verdienstkreuz; Schaeffler AG; 3 May 2001
External links Forbes World's Richest People