HANOVER, Germany—Continental A.G. Chairman Hubertus von Gruenberg, the architect of Conti's drive to become a more fully rounded supplier of automotive systems, is resigning that post effective June 1. Mr. von Gruenberg, 56, asked Continental's supervisory board at a March 31 meeting to be relieved of his duties ``for personal reasons.'' No further details were divulged, but Mr. von Gruenberg told a small circle of Conti executives at least three years ago he was interested in retiring early.
Mr. von Gruenberg likely will continue with the company as chairman of the supervisory board—a distinctly German form of corporate management consisting of outside directors and representatives of the firm's labor unions.
That body's current chairman, Ulrich Weiss of Deutsche Bank A.G., has recommended Mr. von Gruenberg take over his position when supervisory board members are selected later this year.
Mr. von Gruenberg has been chairman of Continental since 1991, coming to Conti from the U.S. chassis systems company ITT.
A supervisory board committee has recommended Dr. Stephan Kessel—currently overseeing Conti's commercial vehicle tires, quality and environment and international operations—be named Mr. von Gruenberg's successor.