Prof. Dr.-Ing. Wolfgang Reitzle to Become New Chairman of the Executive Board of Continental AG

Prof. Dr.-Ing. Wolfgang Reitzle, chairman of the Executive Board of Linde AG, is available for the position of chairman of the Continental AG Supervisory Board. Continental's major shareholder Schaeffler KG was able to win the internationally experienced manager and recognized automotive industry expert for this task. Continental AG will apply to the district court of Hanover for his appointment as member of the Supervisory Board. It shall then be proposed to the Supervisory Board of Continental AG that he be elected as the new Supervisory Board chairman.

Dr. Michael Frenzel, chairman of the Executive Board of TUI AG and member of the Supervisory Board of Continental AG up to now, has made his mandate available with reference to the work load involved in his full-time position. The current Continental Supervisory Board chairman Rolf Koerfer said: "We thank Dr. Frenzel for his many years of valuable service in the Supervisory Board. He has always been an outstanding advisor to the Executive Board and to his colleagues on the Supervisory Board." Koerfer will continue to be a member of the board and a member of the Chairman's Committee.

"By reorganizing the Executive Board and now by filling the position in the Supervisory Board with a neutral person who comes from outside the two companies, Continental AG has established the personnel groundwork required to lead the company into a sustainably successful future together with its major shareholder," noted Koerfer.