Schaeffler strengthens Compliance organization

(PresseBox) (Herzogenaurach, ) .
- Eric Soong appointed Chief Compliance Officer (CCO) of Schaeffler Group
- New Compliance & Corporate Security unit with global responsibility
- Ensuring compliant business practices is the top priority

Eric Soong (47) is taking over as Chief Compliance Officer (CCO) of the Schaeffler Group from 1 October 2014, overseeing the newly created Compliance & Corporate Security department. He will report directly to Klaus Rosenfeld in his position as Chief Financial Officer (CFO) of Schaeffler AG.

As well as responsibility for global compliance activities, focusing on antitrust law and the prevention of economic/financial crime and corruption, the Compliance & Corporate Security department will also oversee the security of the company. A particular aim of the new unit will be to strengthen global compliance and governance processes and to continue developing Schaeffler Group's Compliance Management System.

"With Eric Soong we are gaining a leading expert with many years of international experience in risk management and compliance. With his appointment and the en-visaged strengthening of the compliance department we are sending another strong signal that compliance is key and a top priority issue on senior management level at Schaeffler Group," said Klaus Rosenfeld.

Before joining Schaeffler Group Eric Soong was the Chief Compliance Officer of UBS Deutschland AG, where he worked closely on all issues contributing to compli-ant business practices. Previously he held various positions in the fields of compli-ance and risk management for WestLB and Deutsche Bank, working in Germany and abroad. Mr Soong, who was born in Germany and has Chinese roots, studied Business Management and Information Technology at Johann Wolfgang Goethe University in Frankfurt. He is a board member of the Association of German Compli-ance Officers (BDCO).


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