Conti picks Neumann as new chairman

Hanover, Germany -- Continental AG's supervisory board has appointed Karl-Thomas Neumann, a member of the board since October 2004, chairman of the firm's executive board, succeeding Manfred Wennemer, who's resigning that post in the wake of the board's decision to accept Schaeffler Group's takeover offer.

Neumann, 47, joined Conti four years ago from Volkswagen AG, where he was head of VW's electrics and electronics unit and responsible for the electric and electronic module family of systems. He came on board at Conti as chief technology officer and chairman of Continental Teves AG & Co. Since December 2007 he has been responsible for the chassis & safety and powertrain divisions as well.

Conti also promoted Alan Hippe, head of Conti's passenger/light truck (PLT) tyre division since April and president of Continental Tire North America Inc., to deputy chairman of the executive board, a newly-created position. He will continue to be reponsible for the PLT division and be Conti's chief financial officer and will assume responsibility Oct. 1 of the ContiTech non-tyre rubber products division from Gerhard Lerch, who is retiring.

Hippe, 41, has been a member of Conti's executive board since June 2002, responsible for the areas of finance, controlling and law.

From Tire Business (A Crain publication)

Press release from Continental