BERLIN, Dec 17 (Reuters) - Germany's Continental, which is undergoing a major overhaul to focus on its core tyre business, will get a new CEO at the turn of the year, with Christian Koetz appointed to
Continental Names New CEO to Strengthen Tyre Business
By Rachel More
BERLIN, Dec 17 (Reuters) - Continental has appointed Christian Koetz, a three-decade veteran of its tyre business, to become its next CEO as the German autos supplier looks to complete an overhaul to focus on its core tyre operations.
Nikolai Setzer, 54, is stepping down as CEO by mutual agreement after more than 16 years as a board member and five years at the helm, the company said on Wednesday.
The change comes "on the back of the significant progress made with Continental's realignment", it said in a statement.
The supervisory board unanimously appointed Koetz at a meeting on Wednesday. The 55-year-old is set to take over as CEO from January 1, the statement said.
Setzer told the FAZ newspaper in April that he would step back if the spin-off of rubber and plastics division ContiTech proceeded as planned.
Continental's car parts business was spun off and went public as new company Aumovio in September, while the group is proceeding with a planned sale of ContiTech in the second half of 2026.
Koetz has been an executive board member since 2019 and previously led key areas within the tyre business.
"Together with the Executive Board team and all colleagues throughout the company, we will complete the realignment and continue the success story of our tire business," Koetz said.
(Reporting by Rachel More. Editing by Miranda Murray and Mark Potter)
