A new financial director has been appointed at Continental

On April 25, the supervisory board of Continental decided that on October 1, Roland Welzbacher will replace Olaf Schick as the company's financial director. In December last year, Schick filed an application for early termination of the contract, which was approved by the supervisory board, and Welzbacher will join the Continental executive board on August 1.

In his new role, Welzbacher will continue to manage the financial operations of Continental's tire division, which he has been responsible for since 2023. After the ContiTech division, which produces RTI, becomes an independent company, he will continue to work on the Continental executive board, which will focus on tire production.

Schick will leave his post on September 30 after the Automotive structure, which produces automotive electronics, is spun off from Continental, and on October 1, he will join the board of directors of Mercedes-Benz.

"With Roland Welzbacher, we are adding a very experienced manager to the executive board," noted Wolfgang Reitzle, Chairman of the Continental Supervisory Board. "He is perfectly suited for the position of financial director, given that ContiTech will become an independent company and Continental AG will produce tires exclusively."

Nikolai Setzer, CEO of Continental, added that "Roland Welzbacher is an outstanding leader with whom I have worked closely for many years." "His extensive experience in the tire sector at the international level and in-depth knowledge of finance, as well as mergers and acquisitions, make him the ideal candidate to help implement the reorganization of Continental as financial director. I look forward to continuing our cooperation on the executive board."

Welzbacher has been working at Continental for 22 years and has held a number of positions in the company's tire division, including the posts of CEO of Semperit Reifen GmbH, head of the replacement tire business for vehicle manufacturers and fleets, etc. Before joining Continental, he worked as a mergers and acquisitions consultant at Hypo Consult GmbH in Munich, Germany.