Continental to separate ContiTech and tyre businesses

In line with its restructuring, German technology firm Continental says that
its tyres business and ContiTech non-tyre rubber and plastics products sectors will be independent business units, effective 1 January. Meanwhile, it will split its Automotive Technologies branch into five business areas including a new focus on smart mobility and user experience.

The ContiTech business is more known for its rubber manufacturing but its
holdings also include thermoplastic hoses, seals and other auto parts.

The tyres and ContiTech businesses are consolidated in the rubber
technologies group sector.

At the same time, Continental says it will comprehensively realign the
Automotive Technologies group sector (from 2022: Automotive). The technology company will create five business areas whose future structure will be geared to the strategic action fields and market development of Automotive Technologies. The five business areas are: safety and motion; autonomous mobility; smart mobility; user experience; and architecture and networking.

Nikolai Setzer

Nikolai Setzer will continue to be responsible for this group sector on the Executive Board, in addition to his function as CEO of Continental. As part of the restructuring, management board members Helmut Matschi and Frank Jourdan will step down, nearly three years before the end of their contracts. That will shrink Continental’s board to five members from 1 January.

“Mobility of the future is sustainable, automated and connected. In the
future, vehicles will have a variety of powerful senses. They will speak the
same language and communicate with their environment and the driver, their neural pathways will be highly responsive and seamlessly interconnected, and a central intelligence system will steer them reliably and safely to their destination in all situations,” said Setzer, explaining the key strategic action fields in Automotive Technologies.

He added, “We are consistently aligning our Automotive Technologies group
sector with long-term technology and market trends and thus with our
strategic action fields. We are thus making the most of the potential
presented by our unique strong technology position in all of these fields.
As a mobility supplier and technology integrator, Continental will play a
decisive role in the development and industrialization of the innovations
required for this.”

Three new business areas will be created from the Vehicle Networking and
Information business area: Architecture and Networking, User Experience, and Smart Mobility. They will combine their respective business activities
around connectivity technologies and high-performance computers, display and operating technologies, and mobility services and services for fleet
operators and commercial vehicle manufacturers.

In March 2021, the Supervisory Board already approved the Executive Board’s resolution to create the two business areas Autonomous Mobility as well as Safety and Motion at the turn of the year. These will emerge from the Autonomous Mobility and Safety business area. They will combine the business for advanced driver assistance systems and automated driving and the business activities related to safety electronics, sensors, and brake and chassis systems.