HANOVER, Germany—Heinz-Gerhard Wente will step down as CEO of ContiTech A.G. on April 30, allowing his contract to terminate at his own request, the firm said.
Continental A.G.—ContiTech's parent—has appointed Hans-Juergen Duensing to run the unit effective May 1.
Continental said Wente spent more than 40 years with the firm.
“We are happy to have gained a very experienced division head in Mr. Hans-Juergen Duensing. On behalf of my colleagues on the supervisory board, we wish him all the best and every success as he takes up this new position,” Wolfgang Reitzle, chairman of Continental's supervisory board, said in a statement.
“We would also like to express our sincere gratitude to Mr. Heinz-Gerhard Wente for the many years he has served this company and the valuable contribution he has untiringly made. Together with his team, he has succeeded in transforming our rubber and plastics specialist ContiTech from a purely Germany company into an internationally competitive automotive supplier and industrial partner which provides an above-average contribution to the corporation's earnings on a regular basis.”