Personal details - Reitzle wants to remain Chairman of the Conti Supervisory Board until 2026
Continental Supervisory Board Chairman Wolfgang Reitzle is to remain at the helm of the supervisory body for another two years. He will stand for re-election for another two years at the Annual Shareholders' Meeting in April 2024, the company announced on Wednesday after a meeting of the board in Hanover. "Due to my deep connection with Continental, it is particularly important to me to continue to support the Executive Board in the short-term implementation of the strategy," said the 74-year-old. It was previously reported that Reitzle intended to retire from office at the end of the current term of office.
The Continental Executive Board had presented a strategy for the further development of the company, which he fully supported, Reitzle said. "I am convinced of the sustainable success potential of this company and its future-oriented positioning." CEO Nikolai Setzer welcomed the decision: "After challenging years, we are now entering a phase of increased value creation."
At the beginning of the month, Continental announced that parts of its weakening automotive supplier business would be put to the test. The company is examining the possibility of spinning off parts of the automotive division. In total, around a quarter of the division's sales are at stake. However, Setzer ruled out a complete sale.
Together with Reitzle, the other nine shareholder representatives on the Supervisory Board also want to stand for re-election, said a spokesman. Half of them are to be appointed for four years, the others - including Reitzle - for only two years. With the shorter term of office, Continental wants to create the conditions for half of the shareholder seats to be filled every two years from 2026. This does not apply to the employee representatives, who hold half of the seats. Their term of office will remain at five years.
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- The Annual General Meeting in Hanover, Lower Saxony, will see the re-election of Wolfgang Reitzle as Chairman of the Continental Supervisory Board, as he aims to continue his service until 2026.
- The decision to keep Reitzle in his position for another two years was welcomed by the Continental Executive Board, particularly CEO Nikolai Setzer, who is optimistic about the company's future.
- The Continental Executive Board, including Reitzle and other personalities, have also decided to stand for re-election at the Annual General Meeting, with some members agreed to serve a shorter term of two years.
- The Continental Annual General Meeting in April 2024 will take place in Hanover, Germany, where shareholder representatives, including Wolfgang Reitzle, will present their candidacy for the Supervisory Board.
Source: www.stern.de
