Continental Supervisory Board approves restructure

Continental  has announced that its Supervisory Board of Continental AG, Hanover, approved one of the largest organizational changes in the company’s history. With this approval, a new holding structure of Continental AG will be created under the new “Continental Group” umbrella brand.

This approval paves the way for the creation of a new holding structure of Continental AG under the new “Continental Group” umbrella brand. It will be supported by three “group sectors,” namely “Continental Rubber,” “Continental Automotive” and “Powertrain.” The current Powertrain division will be transformed into an independent legal entity under a new name by the beginning of 2019. Andreas Wolf will take over as head of the new company starting at the beginning of 2019. A partial initial public offering (IPO) is expected starting mid-2019.

The reporting structure and the new names are to be used starting 2020. The group sectors will be established step by step, or enhanced where necessary.

Image courtesy of Continental AG. 

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