HANOVER, Germany (Aug. 25, 2008) — Continental A.G.'s supervisory board has appointed Karl-Thomas Neumann chairman of the firm's executive board.
Neumann succeeds Manfred Wennemer, who's resigning that post in the wake of the board's decision to accept Schaeffler Group's takeover offer.
Neumann has been a member of the board since October 2004. He joined Conti four years ago from Volkswagen A.G., where he was head of VW's electrics and electronics unit. He came on board at Conti as chief technology officer and chairman of Continental Teves AG & Co. Since December 2007 he has been responsible for the chassis and safety and powertrain divisions as well.
Conti also promoted Alan Hippe, head of Conti's passenger/light truck tire division since April and president of Continental Tire North America Inc., to deputy chairman of the executive board, a newly created position. He will continue to be responsible for the PLT division and be Conti's chief financial officer and will assume responsibility Oct. 1 of the ContiTech non-tire rubber products division from Gerhard Lerch, who is retiring.
Hippe, 41, has been a member of Conti's executive board since June 2002, responsible for the areas of finance, controlling and law.