At its meeting, the Supervisory Board of Continental AG, Hanover, extended the tenure of CEO Dr. Elmar Degenhart (59) by another five years to August 11, 2024.
“Since August 2009, under the leadership of Elmar Degenhart as CEO together with the Continental team, the company has achieved top performance industry-wide. Together with his Executive Board colleagues and senior executives, he has geared the organisation and company culture toward sustainable and profitable growth in early preparation for the ongoing profound transformation of the automotive industry. The extension of his contract reflects the continuous profitable development of the company. For this, the Supervisory Board is demonstrating its full confidence in him,” said Supervisory Board Chairman Professor Wolfgang Reitzle after the Supervisory Board meeting on Thursday in Eislingen, Germany.
“I wish to thank my Executive Board colleagues and the global Continental team for their outstanding commitment and impressive achievements in the past years. At the same time, I am looking forward to working together with our leaders and more than 240,000 employees as we continue to play a major role in shaping the mobility of the future,” said Degenhart.
“The increasing digitalisation of all processes and products, the conversion of vehicles to electric drive systems, and the high growth in the fields of automated driving and connectivity have triggered a profound transformation in our industries,” explained Degenhart, adding: “We are right at the forefront of shaping this transformation. Continental is now tackling one of the largest organisational changes in our company’s history, which will help us to continue our rapid, profitable growth and to exploit new business potential.”
Degenhart, who holds a doctorate in engineering, has been CEO of the company since August 12, 2009, and is currently in his second term, which ends on August 11, 2019. He is directly responsible for Corporate Communications, Quality and Environment, the global lean management program known as Continental Business System, and numerous central functions in the Automotive Group.