HANOVER, Germany—The Supervisory Board of Continental A.G. has appointed Olaf Schick chief financial officer. He'll step into that role on July 1, replacing Garcia Vila who will step down after 27 years with the company.
Vila's contract will expire at the end of the year.
"Olaf Schick enjoys the trust of all executive board members and the entire organization," Continental CEO Nikolai Setzer said in a statement. "Thanks to his extensive expertise, he defined and initiated the comprehensive implementation of a modern global compliance and risk management system for Continental in a very short time.
"I look forward to working even more closely with him in his future role as CFO. Together, we will focus on implementing our strategy and the associated measures in order to meet our mid-term targets. We will achieve this under our own steam."
Schick, who joined the executive board in 2023, will be responsible for Group Law and Intellectual Property, Group Compliance, Group Internal Audit, Group Quality Management and Group Risks and Controls, all of which are currently part of the Integrity and Law function.
Setzer will take charge of Group Information Technology, which is currently part of the Finance function.
As of July 1, the executive board will comprise six members:
- Nikolai Setzer, responsible for Group Strategy, Group Communications and Public Affairs, Group Information Technology, Group Purchasing, the Chinese Market and Contract Manufacturing (appointed until March 2029)
- Olaf Schick, responsible for Finance and Controlling as well as Integrity and Law (appointed until April 2026)
- Ariane Reinhart, responsible for Human Relations and Sustainability (appointed until September 2025)
- Christian Koetz, responsible for the Tires group sector (appointed until April 2027)
- Philip Nelles, responsible for the ContiTech group sector (appointed until May 2029)
- Philipp von Hirschheydt, responsible for the Automotive group sector (appointed until April 2026)
