Continental Announces Plans for Automotive Sector Spin-Off by End of 2025

Continental Announces Plans for Automotive Sector Spin-Off by End of 2025

(IN BRIEF) Continental plans to spin off its Automotive group sector by the end of 2025, with preparations to be completed by the third quarter of 2025. The move is subject to approval from the Supervisory Board in March 2025 and a final resolution at the Annual Shareholders’ Meeting in April 2025. CEO Nikolai Setzer emphasized the goal of increasing the independence of its Tires and ContiTech sectors. As part of the restructuring, certain services will be transferred to the sectors to create a more efficient, agile holding structure. The new structure will allow Continental to respond more flexibly to market needs.

(PRESS RELEASE) HANOVER, 10-Dec-2024 — /EuropaWire/ — Continental has outlined its plans to spin off its Automotive group sector by the end of 2025, following a detailed evaluation initiated in August 2024. The preparations for this move are set to be completed by the third quarter of 2025, with the spin-off subject to approval from the Supervisory Board in March 2025 and final approval at the Annual Shareholders’ Meeting on April 25, 2025.

Nikolai Setzer, CEO of Continental, emphasized the company’s ongoing commitment to achieving greater independence for its profitable Tires and ContiTech sectors. He stated, “We remain fully focused on spinning off Automotive and empowering our Tires and ContiTech sectors to operate with more autonomy. This transition will create a more streamlined, agile holding structure, better positioned to respond to market demands and capitalize on new opportunities.”

Philipp von Hirschheydt, a member of the Continental Executive Board and head of the Automotive group sector, noted that continuous performance improvements are laying the foundation for the sector’s future success in the capital markets. “We are fully committed to the necessary steps to prepare Automotive for this next phase,” he said.

As part of the spin-off process, Continental will gradually transfer certain group-level services and functions to the individual group sectors. This restructuring aims to create a more efficient holding structure by the end of 2025, where corporate responsibility will be increasingly decentralized to allow for greater flexibility and market responsiveness in the Tires and ContiTech sectors.

Media Contacts:

Vincent Charles
Head of Media Relations
vincent.charles@conti.de
@_VCharles

Marc Siedler
Spokesperson, Business & Finance
+49 511 938-1278
marc.siedler@conti.de
@SiedlerMarc</a

SOURCE: Continental