von Hirschheydt to head Automotive group spin-off for Continental

Before Christmas, Continental confirmed that it will spin-off its Automotive group sector as an independent company by the end of this April.

Continental has now announced that the company will be led by Philipp von Hirschheydt, who has headed the group sector as a member of Continental’s executive board since May 2023.

Philipp von Hirschheydt

“Our entire team is highly motivated and focused on preparing for the spin-off. Short and mid-term targets for Automotive as an independent company will be disclosed at Automotive’s Capital Market Day [in the summer],” von Hirschheydt said.

Wolfgang Reitzle, chairman of Continental’s supervisory board added: “The Executive Board’s decision is an important milestone in steadily increasing the value of Continental. I firmly believe that the Automotive spin-off will unlock new strengths, because focused companies are more agile, especially in times of transformation. The entire Supervisory Board supports this ambitious plan.”