HANOVER, Germany—For the foreseeable future, Continental A.G.'s leadership will be consistent. At least when it comes to Nikolai Setzer.
The Continental Executive Board on April 27 extended the contract for Setzer, who has served as CEO and chairman since December 2020. Originally set to expire in March 2024, the contract now will run through March 31, 2029.
"Nikolai Setzer has our utmost trust and confidence," Supervisory Board Chairman Wolfgang Reitzle said in a statement. "Over the past three years, he has successfully initiated and rigorously pursued Continental's transformation. He will guide the company toward a successful future."
Setzer joined Continental in 1997, while finishing his studies in engineering management, and has been a member of the Executive Board of Continental since August 2009, when he was initially responsible for the passenger car tire business. Two years later, he took over responsibility for all of Continental's tire activities.
Those are responsibilities he has held until recently.
In the years ahead, Setzer will focus a little more heavily on his CEO responsibilities. As of May 1, Setzer has—in a planned move—handed over "his additional responsibility for the Automotive group sector."
And that is where Philipp von Hirschheydt comes in.