At the car supplier Continental, shareholders will come together to the Annual General Meeting in Hanover on Friday.
Decision is: Continental splits off the car delivery division
The tire manufacturer Continental separates from its weakening car delivery division. Aumovio is to be brought to the stock exchange via a so-called pure spin-off, as was decided at the Conti general meeting in Hanover. The board of directors and the supervisory board had already agreed to split off. The spin-off should be completed by October 2025.
With a pure spin-off, the shareholders get New shares of the part to be split partly simply booked to the depot and can then decide whether they stay with them or sell shares. The DAX group does not flow to the DAX group through such a procedure.
Conti shrinks back into a tire manufacturer
Contis car delivery business has long been a problem child and has repeatedly written red numbers in recent years. In the largest group in sales, the austerity course was recently tightened again. More than 10,000 jobs are eliminated, around half each in the administration and in research and development.
The Group also wants to separate from his plastic technology division Contitech. Subject to the necessary resolutions, the independence could take place in the course of 2026. After a sale, only the traditional tire business should remain.
Continental appoints Tires-CFO Welzbacher to the new CFO
Continental has found a successor to the outgoing finance board Olaf Schick. The CFO of the Tires area, Roland Welzbacher, takes over the post as of October 2025, as the DAX group announced. The Supervisory Board approved the appeal. The exact assignment and cutting of the management areas finance and integrity and law that were previously asserted should be communicated later.
Welzbacher will continue to lead the management of finance and controlling at Tires. In addition, after the planned independence of the Contitech area in the Continental AG then focused on tires, he will continue his board mandate. As already known, Schick changes to Mercedes-Benz and takes over the board department in integrity, governance.
Welzbacher has been with Continental for 22 years and worked in various positions in the tire business.
Continental further recovered – Michelin grows for numbers
The Shares of Continental expanded their recent relaxation on the day of the general meeting of the car supplier and tire manufacturer. In the meantime, the Conti share increases by 0.84 percent to 69.30 euros. Since the DAX group that was triggered by the global customs conflict in the early April, the papers of the DAX group have already recovered by around 25 percent.
At the general meeting, the focus is on the planned splitting of the company. Conti has also found a new head of finance. In addition, Michelin supported quarterly figures. The French tire manufacturer had confirmed his forecast after a strong start of the year. The Michelin shares climbed 1.56 percent higher in Paris at 31.33 euros.
Hannover (dpa-Afx) / Dow Jones
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