Following the departure of CFO Katja Garcia Vila, Continental is redistributing responsibilities on the Executive Board.

The automotive supplier announced on Thursday that Olaf Schick, who was previously responsible for Legal and Integrity, will take over responsibility for Finance and Controlling. The IT division will go to CEO Nikolai Setzer. The Supervisory Board has approved the restructuring, which will come into effect on July 1. The 52-year-old Schick had also advanced the company beyond his own area, said Supervisory Board Chairman Wolfgang Reitzle. "With this Management Board team, we are strongly positioned for the future."

Schick has been working for Continental since May 2023. Prior to that, he was responsible for finance at Daimler in Russia and China, among other things. Garcia Vila announced in March that she would not be available for a further term of office after her contract expires at the end of the year. She cited her own career plans as the reason.

(Report by Christina Amann, edited by Ralf Banser. If you have any questions, please contact our editorial team at Berlin.Newsroom@thomsonreuters.com (for politics and the economy) or Frankfurt.Newsroom@thomsonreuters.com (for companies and markets)