Schaeffler Has Eye on Another Conti Board Seat

It appears Schaeffler’s representation on the Continental AG supervisory board will be strengthened with the addition of a fifth representative. Reuters reported on April 20 that Hans-Jörg Bullinger, president of the Fraunhofer-Gesellschaft, will not, as originally planned, stand as a supervisory board candidate at the April 23 Annual General Meeting. Bullinger’s comment to Reuters was that “Schaeffler would like it if the company is well represented.”

The fifth member on the Conti supervisory board, says Reuters, will be Schaeffler finance chief Klaus Rosenfeld. He will join chief executive Jürgen Geissinger, legal adviser Rolf Koerfer and Maria Elisabeth and Georg Schaeffler.