GERMANY: Conti lines up new CFO
Author: just-auto.com editorial team | 12 October 2009
Wolfgang Schaefer, commercial executive at Stuttgart-based automotive supplier Behr, is considered to be the top candidate for the CFO position at German car parts maker Continental AG, according to the Financial Times Deutschland.
The supervisory board is expected to elect Linde's CEO Wolfgang Reitzle as chief supervisor at its meeting on 19 October. Continental has also approached Ronald Pirtle, executive at US rival Delphi, which has just emerged from years of bankruptcy protection, to head up its loss-making powertrain unit.
This would bring Continental's management up to full strength for the first time since Schaeffler Group initiated Continental's takeover in 2008. Since then, a number of executives and supervisory board members have been struggling for power.
Continental, Schaeffler and Behr did not comment on the report.
Sectors: Components, Financial
Companies: Continental, Delphi, Schaeffler
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