Bosch CEO Stefan Hartung Steps Down

Stefan Hartung is stepping down as chief executive officer of Bosch, effective June 30 at his own request. The departure comes after Hartung led a multiyear restructuring campaign designed to cut costs and improve the competitiveness of the German engineering company. Bosch supplies parts, software, and systems to nearly every major automaker worldwide, making it the largest supplier in the automotive sector.

The company did not name a successor, and the current management board will oversee day-to-day operations while a replacement is identified. Bosch remains largely controlled by the Bosch and Siemens families, with only a small fraction of shares publicly traded on the Frankfurt exchange. Market observers will track whether the incoming CEO continues Hartung’s efficiency program or shifts capital toward the company’s transition to electric vehicle hardware and software.