Continental names Christian Koetz head of tire division as part of management reshuffle

HANOVER, Germany—Continental A.G. has promoted Christian Koetz to head up its tire division as part of a management restructuring.

Nikolai Setzer, tire division head since mid-2011, will become the spokesman for the newly created automotive board, while continuing to serve on the firm's executive board, Conti said.

Koetz, who has led the commercial vehicle tires business unit since July 2018, will assume the three-year tenure for head of tire division and corporate purchasing as of April 1. He also will become a member of the Continental's executive board, the company added.

He joined Continental's tire division as a trainee in 1996. Later, he was responsible for key account management for the original equipment in North America, and then for research and development. From 2011 to 2018, he headed the passenger and light truck tires replacement business for Europe, the Middle East and Africa before taking the top position at the commercial vehicle tires business unit.

He served as president of the European Tyre & Rubber Manufacturers' Association from 2015 to 2017.

Additionally, Nikolai Setzer's position on the executive board has been extended by five years to March 2024. In his role as the spokesman for the automotive board, Setzer will be in charge of "maintaining a unified business strategy" in this area.

His team will be complemented with a chief technology officer as of 2020, to advance automotive development activities.

Continental's supervisory board also extended the terms of executive board members Frank Jourdan and Helmut Matschi until March 2024.

CFO Wolfgang Schaefer's term, which was due to expire this year, has been extended by five years to year-end 2024.

The reshuffle is in support of Continental's current process of reorganization to become a "leading technology company in our industries," CEO Elmar Degenhart said.

The newly established automotive board will start operation in April, taking on some responsibilities from the corporate executive board and pursue the transformation process in the automotive area.

In addition to Setzer, members of this board include Jourdan, president chassis and safety division; and Matschi, president interior division.

The board will be completed with Dirk Abendroth, CTO of automotive; as well as the heads of finance and controlling and human relations for automotive, who are yet to be appointed