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Conti supervisory board gives greenlight for reorganisation plan

Hanover, Germany – Continental AG’s supervisory board has unanimously agreed with the company’s major reorganisation plan, which entails forming three group sectors under the umbrella of a new “Continental Group”.

The board also agreed with the transformation of Conti’s Powertrain division into an independent legal entity with a new name by the start of 2019.

In a 26 July statement, Conti said that Andreas Wolf will take over as head of the new powertrain company, with a partial initial public offering (IPO) is expected by mid-2019.

Earlier this…

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