It was decided at yesterday’s meeting of Continental AG’s Supervisory Board that, as of 1 May 2015, Hans-Jürgen Duensing will join the company’s Executive Board and simultaneously take charge of the ContiTech division. He will take over from Heinz-Gerhard Wente, who has requested the termination of his contract on 30 April, thus ending a career with Continental spanning more than forty years.
Flooding last month created havoc in some parts of the Balkans and killed at least 40 people. Continental, which operates two plants in Serbia, is donating a total of around €70,000 for the flood victims in that country. On 4 June the company gave €50,000 to German relief organisation Help – Hilfe zur Selbsthilfe e.V. In addition, employees and management of the ContiTech plant in Subotica have donated approximately €11,000 to the Serbian Red Cross and a further €10,000 is being given to Continental employees personally affected by the flooding.
Sales at Continental’s ContiTech division are expected to increase five per cent year-on-year in 2014, but the plan for the coming decade is for much larger growth. In an interview with German financial daily Handelsblatt, division head and ContiTech AG Executive Board chairman Heinz-Gerhard Wente shared on expansion plans for the newly-enlarged ContiTech: “The goal within the next ten years is to again double the turnover of ContiTech, including Veyance. This is by no means utopian.” This means turnover of around €11 billion.
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