Prof. Dr.-Ing. Wolfgang Reitzle to Become New Chairman of the Executive Board of Continental AG
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.
Continental Reifen Deutschland GmbH
With sales exceeding €24 billion in 2008, the Continental Corporation is one of the top automotive suppliers worldwide. As a supplier of brake systems, systems and components for the powertrain and chassis, instrumentation, infotainment solutions, vehicle electronics, tires and technical elastomers, the corporation contributes towards enhanced driving safety and protection of the global climate. Continental is also a competent partner in networked automobile communication. The corporation currently employs approximately 130,000 at nearly 190 locations in 35 countries.