Continental has appointed Nikolai Setzer as new executive board chairman effective 1 December, 2020.

Setzer succeeds Elmar Degenhart, who, as already announced, is stepping down from his position prematurely for health reasons.

"Continental is in the process of transforming into a technology and software company that, together with vehicle manufacturers, is laying the foundation for the sustainable mobility of the future," said Continental chairman, Wolfgang Reitzle. "Nikolai Setzer has our utmost trust and confidence. The supervisory board is certain he will push forward with and successfully shape this transformation.

"Key factors here are his deep, long-standing bond with Continental and its company values as well as his extensive international experience in the automotive and tyre business.

"At the same time, we express our sincere thanks to Mr. Degenhart for his outstanding performance, his exemplary leadership and his considerable contribution to Continental's success over the years. We wish him all the best for the future, especially regarding his health."

In his 23-year career at the company to date, Setzer has held various positions in development and sales in Germany and abroad, assuming the position of head of the Hanover-based passenger-car tyre business in March, 2009. He has been a member of the executive board of Continental since August, 2009.

He assumed responsibility for the Tyres business area, which was formed from the passenger-car and commercial-vehicle tyre businesses, in August, 2011 and for Corporate Purchasing in May 2015. In April, 2019, Setzer switched to Continental's Automotive Group, where he assumed the newly-created position of spokesman of the Automotive Board and was responsible for maintaining a unified business strategy in the area.

He will continue in the position. The number of executive board members at Continental will decrease from nine to eight on 1 December, 2020.

Show the press release

https://www.continental.com/en/press/press-releases/executive-board-240342

Original source: https://www.continental.com/en/press/press-releases/executive-board-240342