In its meeting, the Supervisory Board of Continental AG appointed Nikolai Setzer as the new Executive Board chairman until March 2024, effective starting December 1, 2020. Setzer succeeds Dr. Elmar Degenhart who is stepping down from his position for health reasons, with the consent of the Supervisory Board, effective November 30, 2020. Setzer has worked at Continental since finishing his studies in engineering management in Germany and France in the year 1997. In his 23-year long career at the company till date, he has held various positions in the development and sales in Germany and abroad, assuming the position of head of the Hanover-based passenger-car tire business in the month of March 2009.
Moreover, he has been a member of the Executive Board of Continental AG since August 2009 and he assumed responsibility for the Tires business area, which was formed from the passenger-car and commercial-vehicle tire businesses in August 2011 and for Corporate Purchasing in May 2015. Later on, in the month of April 2019, Setzer switched to Continental’s Automotive Group, where he assumed the newly created position of the spokesman of the Automotive Board and was thus responsible for maintaining a unified business strategy in this area. The company’s press statement also mentions that the number of Executive Board members at Continental will decrease from nine to eight on December 1, 2020.
Speaking on the appointment of Setzer as the new Continental CEO, Prof. Wolfgang Reitzle, chairman of Continental’s Supervisory Board said that Continental is in the process of transforming into a technology and software company that, together with vehicle manufacturers, is laying the foundation for the sustainable mobility of the future. He also stated that Nikolai Setzer has the brand’s utmost trust and confidence and the Supervisory Board is certain that he will push forward with and successfully shape this transformation. Reitzle also stated that the key factors here are his deep, long-standing bond with Continental and its company values as well as his extensive international experience in the automotive and tire business.
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