Schaeffler Won’t Extend CEO’s Contract: Report

Published: September 16, 2013

Schaeffler, a German auto parts maker, will not extend the contract its CEO Juergen Geissinger, according Manager Magazine Online.

Owner Maria-Elisabeth Schaeffler said Geissinger was "no man for the future" because of his authoritarian management style, the website reported.

Geissinger’s current contract lasts until the end of 2014 and discussions on whether it should be renewed begin one year in advance at the earliest, according to a company spokesman.

Geissinger doubled Schaeffler’s size by acquiring FAG Kugelfischer in 2001.

A few years he attempted a stealthy take over Continental AG, building a virtual stake of 36% in the company via cash-settled options in 2008.

Cosmo Tires to include 40,000-70,000 mileage warranty on all PLT tires

Cosmo will continue its portfolio expansion later this year when it launches its new Gripit X/T, Rockit R/T, and Cosmo Kurrent.

By Christian Hinton

Published: April 22, 2024

Cosmo Tires, distributed by Tire Group International, has introduced changes to its mileage warranty and road-hazard programs which will now feature a mileage warranty of 40,000-70,000 miles for all passenger and light truck tires offered.

“Our products are over-built and tested on the most rigorous tracks and terrains around the globe and this reflects our investments in manufacturing and quality. Now, all passenger and light truck tires carry Cosmo’s road hazard and mileage warranty ranging from 40,000-70,000 miles," said Dominick Montouri, chief strategy officer of Tire Group International, said.