Continental AG at its Supervisory Board Meeting in Hanover has approved one of the largest organisational changes in its history with significant rejig at the Executive Board level. As part of the management restructuring, Executive Board member Nikolai Setzer, who is responsible for the Tyre division and Corporate Purchasing, will assume the new position of spokesman of Continental’s Automotive Group on April 1, 2019 and will be in charge of maintaining a unified business strategy in this area. His responsibilities will comprise a range of global automotive corporate functions, including purchasing, key account management, supply chain management, and automotive manufacturing. Nikolai’s team starting January 1, 2020, will be strengthened with the Chief Technology Officer (CTO) of Automotive, under whose leadership Continental will combine part of its automotive development activities.
Further, the Supervisory Board has extended, ahead of time, the appointment of Nikolai Setzer as a member of the Executive Board by five years to the end of March 2024 as a result of his change in role. Christian Kötz – a new member of the Executive Board - succeeded him as head of the Tyre division and corporate purchasing. Kötz will assume his new role on April 1, 2019, as well and his appointment will run for three years until the end of March 2022.
Owing to the changes in the automotive area, the Supervisory Board also extended the appointments of Executive Board members Frank Jourdan and Helmut Matschi ahead of time until the end of March 2024. It has also extended the appointment of CFO Wolfgang Schäfer, which was due to expire this year, by five years to the end of 2024. In addition to Finance, Schäfer is responsible for Controlling, Compliance, Legal and IT. The appointments of the remaining members of the Executive Board were not up for extension, the company said.
Starting on April 1, 2019, the newly-established Automotive Board will lighten the load of the corporate executive board and will also play a critical role in shaping the ongoing transformation process in the automotive area. Besides spokesman Nikolai Setzer, the automotive board includes two members of the executive board - Frank Jourdan, President Chassis & Safety division; and Helmut Matschi, President Interior division. The board also comprises Dr Dirk Abendroth (43), Chief Technology Officer, Automotive as well as the heads of Finance & Controlling and Human Relations for Automotive, who are yet to be appointed.
Prof Wolfgang Reitzle, Chairman, Supervisory Board, said with today’s decisions Continental is supporting the current reorganisation process. The company is also safeguarding the experience and continuity in corporate management that will be critical to the success of this endeavour, he added.