The transition to electromobility poses major challenges for the bosses of Germany s largest automotive suppliers. The market is also weakening. Thousands of jobs are on the line.
BERLIN (Reuters) -German auto parts supplier Continental is considering the sale of the car division currently bundled within ContiTech, manager magazin reported on Monday, citing company sources. The possible sale would be part of a wider reorganisation of the company being planned by Supervisory Board Chairman Wolfgang Reitzle and the executive board around CEO Nikolai Setzer, the publication added, citing the sources. Continental has taken a series of steps in recent years to restructure and boost profitability as its market capitalisation tumbled to 13 billion euros ($14.17 billion) from 50 billion in 2018.
MM : Conti examines concentration on tires and plastics - partial sales possible HANNOVER/HAMBURG - Continental Supervisory Board Chairman Wolfgang Reitzle is examining a concentration of.
The possible sale would be part of a wider reorganization of the company being planned by Chairman Wolfgang Reitzle and CEO Nikolai Setzer, the report said.
Continental CEO Nikolai Setzer has put the corporation s shareholders in the mood for a more stable remainder of 2023 following his contract extension - while hinting at continued high prices for. | April 27, 2023