Stefan Hartung Steps Down Early as Bosch CEO

Bosch has announced an unexpected change in its executive leadership, as Stefan Hartung will step down from his position as Chairman of the Management Board effective June 30. The 60-year-old, who began his career at Bosch in 2004, has decided to pursue other professional and societal interests outside the company. Christian Fischer, currently serving as deputy CEO and head of the consumer goods division, is set to take over the top role on July 1.

The leadership transition takes place with the full agreement of Bosch's shareholders and supervisory board. Hartung's tenure, which began at the start of 2022, was marked by significant challenges, including the COVID-19 pandemic, geopolitical tensions such as the war in Ukraine, shifting US trade policies, and intensifying competition from Chinese firms. During these years, Bosch invested heavily in key areas like electromobility, automated driving software, hydrogen technology, heat pumps, and semiconductor development. However, not all strategic initiatives met their targets, leading to adjustments in financial objectives, cost-cutting measures, and substantial workforce reductions.

Despite the challenges, Hartung is credited with steering Bosch through a demanding period and initiating important restructuring steps. Under his leadership, the company set new priorities in innovation and future technologies, while also facing critical scrutiny from employees due to the scale of job cuts. Bosch's management has stated that the departure follows the successful achievement of milestones in restructuring and strengthening the company's long-term competitiveness.

Christian Fischer, 58, brings extensive experience to his new role, having started his career at Bosch as a trainee before working in management consulting and then returning to the company's executive ranks in 2018. As the new CEO, Fischer is tasked with continuing the transformation process and driving further innovation amid ongoing economic headwinds. His contract is reported to run for five years. The deputy CEO function will now be shared by Finance Director Markus Forschner and Markus Heyn, head of the automotive supply division.

The economic environment for Bosch remains difficult. The company, recognized as the world's largest automotive supplier, is experiencing pressures not just in its core automotive parts business--where the transition to electric vehicles has been slower than anticipated--but across its entire product portfolio. Weaker consumer demand for household appliances, power tools, and garden equipment has also negatively impacted sales. Bosch has acknowledged a loss of competitiveness in several business segments and is executing an extensive restructuring program, including plans to cut up to 22,000 jobs in its automotive supply sector alone over the next several years. Additional workforce reductions are expected in the home appliances and power tools divisions.

These restructuring measures have led to significant financial burdens. Last year, Bosch reported a post-tax loss of EUR363 million, marking its first annual loss since 2009. This follows a year in which profits had already been halved. While group sales in 2025 increased slightly to EUR91 billion, the result still fell short of company expectations. The costs associated with restructuring, job cuts, and external factors such as US tariffs and tax effects totaled EUR2.7 billion, mainly in the form of provisions.

Looking ahead, Bosch's new management is aiming to build on the foundations laid in recent years, focusing on accelerating decision-making and bringing innovations to market more rapidly. The company's leadership has indicated that, despite ongoing economic challenges, it expects a modest improvement in business performance for the current year, with projected sales growth of two to five percent and higher profitability in 2026. The company recognizes the need for continued adaptation and agility as it navigates ongoing changes in its global markets.