Nikolai Setzer to Succeed as CEO of Continental

Continental CEO Elmar Degenhart is stepping down amid a push by the supplier to overhaul management and speed up structural changes.

Degenhart, 61, is resigning his post « for reasons of immediately necessary preventive health care, » Continental said in a statement on Thursday.

The company did not name Degenhart’s successor. It said its supervisory board will meet shortly to decide on the appointment of a new CEO.

Degenhart will be succeeded by the head of the supplier’s core automotive operations, Nikolai Setzer, Bloomberg reported, citing people familiar with the matter.

Read the source article at Automotive News Europe