Maria-Elisabeth Schaeffler was born in Prague and grew up in Vienna. She finished high school and attended medical school at Vienna University and now, as co-owner of the Schaeffler Group, is continuing the lifelong work of her husband Dr. Ing. h.c. Georg Schaeffler, who died in 1996. The Schaeffler Group, one of the largest European industrial companies in family ownership, is based in Herzogenaurach, Germany. The company was founded by brothers Georg and Wilhelm Schaeffler, who came to Herzogenaurach in 1946 to rebuild their lives after the exodus from Silesia.

Under the umbrella of INA-Holding Schaeffler KG, Maria-Elisabeth Schaeffler and the dedicated management team continue to successfully develop the group of companies. The acquisition of all shares of the clutch manufacturer LuK in 1999 and the acquisition of FAG Kugelfischer Schweinfurt in 2001 are among the significant and groundbreaking steps the company has taken during the past few years. With the INA and FAG brands, the Schaeffler Group is the world’s second largest manufacturer of rolling bearings and has the widest range of products among all suppliers. Other additional acquisitions, most recently the purchase of Renold, a French primary chain drive specialist in 2006, serve to optimize the range of products on offer.

Maria-Elisabeth Schaeffler’s special bond with the company is not only expressed by her participation in all important conferences and events - she takes a particular personal interest in employee development and compliance with high social, environmental and quality standards. The close connections between the owners, management and employees have proved highly effective over a long period.

Along with her dedication to the company, Maria-Elisabeth Schaeffler is an active member of various boards and committees and she is receptive towards social concerns, which she supports in many different ways. Maria-Elisabeth Schaeffler has received many honors and awards for her dedication and outstanding achievements.

Maria-Elisabeth Schaeffler was awarded the Cross of Merit, 1st Class of the Order of Merit of the Federal Republic of Germany from the Federal President, Horst Koehler on October 4, 2007. The award honors her success as a businesswoman, her exemplary commitment to the economy of Mid-Franconia especially as regards to training for young people, as well as her great personal commitment to social and charitable work, education, the arts and culture.

On April 30, 2001, Maria-Elisabeth Schaeffler was awarded the Cross of Merit with Ribbon by the Federal Republic of Germany for her outstanding entrepreneurial achievements and her commitment to social issues.

In May 2007, Maria-Elisabeth Schaeffler was awarded the "Large Silver Medal with Star for Services to the Republic of Austria" by the President of Austria. Dr. Christian Prosl, the Austrian ambassador in Germany and Dr. Martin Bartenstein, the Austrian Minister of Economic Affairs, presented the medal, which is one of Austria’s highest honors.

On July 17, 2003, the Bavarian Governor Dr. Edmund Stoiber awarded Mrs. Schaeffler the Bavarian Order of Merit for the outstanding service she has performed for Bavaria and Bavarian citizens.

In November 2004, Maria-Elisabeth Schaeffler received the Family Entrepreneur of the Year award. This prize, awarded for the first time jointly by the economics magazine “impulse” and the “INTES Akademie für Familienunternehmen” (INTES Academy for Family-Owned Companies), honors family entrepreneurs whose forward-looking leadership has ensured the sustained viability and growth of their companies.

In recognition of her outstanding achievements for business in northern Bavaria's central Franconian region and especially for training programs for young people, she was awarded the Medal of Honor by the Nuremberg Chamber of Commerce in 2001. In early March 2001, Maria-Elisabeth Schaeffler was the first woman to be elected to the 10-member steering committee of the Nuremberg Chamber of Commerce.

She has been a member of the Board of Directors of the German Chamber of Commerce in Austria since 2003 and has been the Vice President of the German Chamber of Commerce since December 2007.
She was a member of the Bavarian advisory board of Dresdner Bank AG for ten years, and was the chairperson for six of those ten years.

Maria-Elisabeth Schaeffler has been a committed member of the council of the Friedrich-Alexander University in Erlangen and Nuremberg since November 1, 2002.

On October 8, 2007, the President of the Gottfried Wilhelm Leibniz University in Hanover awarded the University’s Medal of Honor to Maria-Elisabeth Schaeffler in recognition of the services she performed as a member of the university council from December 2003 to May 2007. With her commitment, advice and creativity, she played an important role in shaping the University's future and contributed significantly to its development.

Maria-Elisabeth Schaeffler was awarded the Karmarsch Medal by the Association of Friends of the Leibniz University in Hanover on November 29, 2007 for outstanding achievements in technology and business as well as for being a figure who still regards social responsibility and commitment as being important.

On February 15, 2006, Mr. Hans Lang, mayor of Herzogenaurach, bestowed honorary citizenship, the highest honor given by the city of Herzogenaurach, on Maria-Elisabeth Schaeffler in recognition of her exemplary economic, social, corporate and voluntary commitment to the city and the Franconian region.

To express thanks for 50 years of INA operations in Höchstadt and INA’s major contribution to the economic progress in the town and the entire region over the past 10 years, the town of Höchstadt an der Aisch made Maria-Elisabeth Schaeffler an honorary citizen on April 25, 2002.

For her commitment to economic and social issues at Schaeffler production locations abroad, Maria-Elisabeth Schaeffler was made an honorary citizen of the Korean province of Jeollabuk in 2005 and honorary citizen of Taicang in China in May 2007.

Maria-Elisabeth Schaeffler is an active member of various committees, among others, she is a member of the board of trustees of “Region Nürnberg e.V.”, a member of the advisory board of the Germanisches Nationalmuseum and she is a member of the advisory board of the foundation of the Bamberg Symphoniker - a Bavarian State Philharmonic orchestra.

On the occasion of opening the INA-Schaeffler plant in Brasov, Romania, Maria-Elisabeth Schaeffler was appointed an honorary member of the senate of the Transylvania University of Brasov by the rector.

The district of Erlangen-Höchstadt honored Maria-Elisabeth Schaeffler on November 9, 2006 by entering her name in the district's "Golden Book". District administrator Eberhard Irlinger honored Mrs. Schaeffler’s entrepreneurial achievements and outstanding personality. “With her entrepreneurial skills and her many-faceted and tireless commitment, Maria-Elisabeth Schaeffler makes a significant contribution to the prosperity and growth of our region."

On the invitation of the city of Lahr, Maria-Elisabeth Schaeffler and her son Georg F.W. Schaeffler signed their names in the city’s “Golden Book” on October 1, 2005. The city’s mayor, Dr. Wolfgang G. Mueller, said that as a major employer, the company had promoted the economic development of the region.