Former Volkswagen Group CEO Bernd Pischetsrieder is the frontrunner to head Continental’s  supervisory board according to a report in Der SPIEGEL.


The current head of Continental’s supervisory board, Rolf Koerfer, has agreed to step down from his post as part of a deal hatched last week that also saw a new CEO appointed. Koerfer has expressed the hope that the political infighting at the company – controlled by Schaeffler Group – will now end.


Der Spiegel said Pischetsrieder is Schaeffler’s second choice as Continental’s new chairman after former BMW and Ford executive Wolfgang Reitzle turned down the position.


Other German media reports have speculated that former BMW CEO Helmut Panke was offered the Continental chairmanship.