As Tyrepress reported on 11 December, Wolfgang Reitzle no longer intends to end his tenure as chairman of the Continental AG Supervisory Board in 2024. At a Supervisory Board meeting on 13 December, he confirmed his availability to serve for an additional two years.
Wolfgang Reitzle, now aged 74, planned to step down as chairman of the Continental AG Supervisory Board when his current tenure concludes following the company’s 2024 Annual Shareholders’ Meeting. However, German financial publication Wirtschaftswoche writes that Reitzle will once again stand for election to the Supervisory Board at next April’s meeting, albeit only for a two-year term of office.
The supervisory board of Continental AG has approved the executive board’s decision to discontinue production at the manufacturer’s plant in Aachen, Germany by the end of 2021. The supervisory board confirmed the executive boards decision during a board meeting today (30 September 2020). The closure decision will affect around 1,800 out of the about 2,000 jobs located at the Aachen site.
Last November, Germany’s main political parties agreed in principle to the idea of requiring companies based in the country to allocate 30 per cent of their non-executive board seats to women as of 2016. The concept is yet to become law, however many German firms are implementing their own gender initiatives ahead of the possible introduction of such legislation. Continental AG is one such company, and when its new Supervisory Board met for the first time on 25 April, its numbers included three freshly-elected women. The presence of four female members on the 20-strong board means Continental has exceeded its target of having a Supervisory Board with 15 per cent women following the 2014 elections.
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Continental AG