Bosch CEO Stefan Hartung to Step Down July 1

Robert Bosch CEO Stefan Hartung will step down on July 1, with Deputy CEO Christian Fischer replacing him. Hartung, 60, requested to leave to pursue new social commitments and entrepreneurial tasks. Bosch has been facing challenges in the automotive industry, including EV demand uncertainty, China competition, tariffs, and planned cuts of 18,500 jobs. Under Hartung’s leadership, the company has been working to make itself more competitive, but the industry’s downturn has hit Bosch hard. The company, which employs over 400,000 people and generated 91 billion euros in revenue last year, has been leading the response to tougher conditions. Fischer, 58, will take over as CEO, with Chief Financial Officer Markus Forschner and mobility head Markus Heyn becoming co-deputy CEOs. Hartung’s departure comes after he led the company since 2022, and his contract was extended for another five years in October. The automotive industry is facing significant challenges, with global demand for electric vehicles being uneven and new competitors in China beating incumbent companies on costs. Bosch’s peers, such as Aumovio SE and ZF Friedrichshafen AG, are also reducing staff. The company’s new leadership will face significant challenges in navigating the industry’s downturn and bringing down costs.