KAANAPALI BEACH, Maui (Jan. 9, 2002)—Bernd Frangenberg, president and CEO of Continental Tire North America, plans to retire by the end of the first quarter.
The 21-year Continental veteran made the announcement at the start of CTNA's annual dealer meeting, Jan. 8-13 in the Hyatt Regency resort in Kaanapali Beach in Maui.
The company's new president, effective immediately, is Ulrich Wellen, who had been CTNA's chief operating officer. Mr. Frangenberg will remain with Conti in an advisory position and on its board prior to his retirement. He told Tire Business he plans to relocate from CTNA's headquarters in Charlotte, N.C., to Cologne, Germany, but will regularly commute to the U.S. after his retirement.
During the dealer meeting, CTNA also announced that it has reorganized its operations into two Global Tire business units—for passenger/light truck and for commercial. “We've been weighing the pros and cons of this strategy for a number of years,” Mr. Frangenberg told dealers, adding that his impending retirement pushed along the decision to continue the company's orientation to a more global operation.
In addition to Mr. Frangenberg's departure, the company also announced that Jochen Nikolin will become head of the Global Commercial Tire business unit, and Manfred Wennemar will be chairman of the executive board with Continental A.G., CTNA's Germany-based parent. Mr. Wennemar also will be in charge of the new Global Passenger/Light Truck business unit.