"In the future, Continental will be supported by three strong, equally represented and independent group sectors," Wolfgang Reitzle, chairman of Conti's supervisory board, said.
"This will accelerate its strategic realignment and position the company in an agile, market-oriented and future-oriented manner with respect to the transformation of the mobility industry."
The tires and ContiTech businesses are consolidated in the Rubber Technologies group sector. Under the new alignment, they will continue to be led, respectively, by executive board members Christian Koetz and Philip Nelles.
Under the new structure, Conti will have three "group sectors," with "Automotive" being the third leg.
Based on Conti's first half financials, the automotive, tire and ContiTech businesses represented roughly 48%, 34% and 18% of the newly configured company's global sales revenue.
The new automotive group sector will comprise five business areas:
- Safety and motion;
- Autonomous mobility;
- Smart mobility;
- User experience; and
- Architecture and networking.
Following the restructuring, Continental will reduce the size of its executive board to five members:
- Nikolai Setzer, chairman of the executive board and chairman of the automotive group board;
- Wolfgang Schaefer, member of the executive board, responsible for finance and controlling, compliance, law and information technology;
- Ariane Reinhart, member of the executive board, responsible for human relations and sustainability;
- Christian Koetz, member of the executive board, responsible for the future tires group sector and group purchasing; and
- Philip Nelles, member of the executive board, responsible for the future ContiTech group sector .
Separately, Conti announced that Philipp von Hirschheydt, currently responsible for replacement tire business for the Europe/ Middle East/Africa region, will be responsible for the automotive unit's user experience business area.