The biggest adjustment in history, the mainland approved the next phase of organizational change

- Mar 19, 2019-

Recently, the Continental Group Supervisory Board approved the next stage of the organizational change in its history and made a series of major personnel decisions at the executive board level.

According to the adjustment, Continental Group executive board member, Nikolai Setzer responsible for tire department and group procurement will be transferred to the Continental Automotive Group's board of directors on April 1, 2019, and will be responsible for the operation of this field, including a series of global automotive business. , covering procurement, major account management, supply chain management and automotive manufacturing.

In addition, the Supervisory Board has extended the Nikolai Setzer's term of office by 5 years to the end of March 2024.

Starting January 1, 2020, the Automotive Group Chief Technology Officer (CTO) will join the team of Nikolai Setzer, which will integrate its automotive R&D projects.

Taking over Nikolai Setzer is the new member of the Executive Board, Christian Kötz Kötz, who will officially serve on April 1, 2019 for a term that will last for three years until the end of March 2022.

Due to changes in the automotive sector, the Board of Supervisors also extended the appointment of Executive Board members Frank Jourdan and Helmut Matschi to the end of March 2024. In addition, the extension of the appointment of the Chief Financial Officer Wolfgang Schäfer, which will expire this year, will be extended for a period of five years to the end of 2024. In addition to the financial part, Schäfer is also responsible for control, compliance, legal and IT. Other members of the Executive Board have not been deferred.

Professor Wolfgang Reitzle, chairman of the board of supervisors, said that the adjustment of the executive board is one of the current restructuring initiatives of the Continental Group and also reflects the decentralization of more power. Starting April 1, 2019, it will ease the burden on the Group's executive board and will play a key role in the transformation of the automotive sector.

According to "China Rubber" previously reported, on July 18, 2018, the Executive Board of the Continental Group decided to carry out a large-scale organizational restructuring, namely, to create a holding structure for its three powerful business areas under the brand new "Continental Group". . The three business segments are: Continental Rubber, Continental Automotive and Powertrain. The reporting structure and new naming will be used from 2020. Continental will continue to grow faster than the relevant markets and leverage its potential to continue to expand in the future.