Continental extends & appoints

At its meeting yesterday, the Continental AG Supervisory Board extended the appointment of Nikolai Setzer, the company’s chief executive officer and Executive Board chairman. It also appointed Philipp von Hirschheydt as a new Executive Board member for Continental’s Automotive group sector, effective 1 May 2023.

With von Hirschheydt’s appointment, Setzer will as planned hand over his additional responsibility for the Automotive group sector and concentrate on duties as chief executive officer. Continental has appointed Von Hirschheydt for a term of three years, until 30 April 2026 – the customary tenure for a new board member. Setzer’s contract had been due to expire in March 2024 but will now run for a further five years, until 31 March 2029.

“Nikolai Setzer has our utmost trust and confidence. Over the past three years, he has successfully initiated and rigorously pursued Continental’s transformation. He will guide the company toward a successful future,” said Supervisory Board chairman Prof. Wolfgang Reitzle.

“I would like to thank the Supervisory Board for placing its trust in me,” commented Setzer. “And I would like to thank my fellow Executive Board colleagues for their constructive and focused cooperation. We have faced considerable challenges in recent years. Together we have proven we are resilient in times of crisis and are well positioned for the future.”

Continued Automotive group progress

Commenting on the change of leadership within the Automotive group sector, Reitzle said: “Under the management of Philipp von Hirschheydt, the Automotive group sector will continue to progress and become more profitable.”

“I hold Philipp von Hirschheydt in the highest esteem,” added Setzer. “As well as his extensive expertise in the automotive industry, he has vast international experience and a close affiliation with Continental. I’m delighted to welcome him to the Executive Board and would also like to sincerely thank the entire Automotive team for four years of successful cooperation. We will continue to focus all our efforts on unleashing the full technological and market potential of Automotive and are confident of achieving our mid-term targets.”

Philipp von Hirschheydt (Photo: Continental)

About Setzer & von Hirschheydt

Nikolai Setzer has worked at Continental since finishing his studies in engineering management in Germany and France in 1997 and been an Executive Board member since August 2009. He was initially in charge of the passenger-car tyre business before taking over responsibility for all Continental tyre activities in August 2011. In April 2019, Setzer switched to Continental’s Automotive group sector, where as spokesman of the Automotive Board he was responsible for maintaining a unified business strategy in this area. Setzer has served as chairman of the Executive Board and chairman of the Automotive Board since December 2020.

Philipp von Hirschheydt currently heads the User Experience business area within the Automotive group sector. He is also a member of the Automotive Board. After graduating in economics, he began his career as a financial analyst at WestLB’s investment banking subsidiary in 2002, where he became vice president of corporate finance in 2005.

In 2007, von Hirschheydt joined Continental as a project manager in the Mergers and Acquisitions department. From 2009, he took over various responsibilities in the former powertrain business, before spending three years in charge of the tyre business in Ecuador and a further three years managing the tyre business in Shanghai from 2012. In 2018, he returned to Germany to take over the management of the European replacement business in the Tires group sector. Following Continental’s organisational realignment in 2022, he became head of the User Experience business area in the Automotive group sector and a member of the Automotive Board.