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At its meeting, the Supervisory Board of Continental AG extended the appointment of Executive Board member Philip Nelles (49) by five years until May 31, 2029.
Continental has sold its plant in Kaluga, Russia, to Russian company S8 Capital. With this step, Continental has divested the majority of its activities in Russia as part of its announced controlled withdrawal from the Russian market – a decision taken by the technology company in response to the war against Ukraine. The transaction has been approved by the relevant authorities.
Continental started 2023 with solid results, in line with its expectations. The technology company anticipates a further improvement in earnings over the course of the year, in particular due to rising production figures for passenger cars and light commercial vehicles, inflation-related price adjustments and cost discipline.
