Continental restructures technology unit, downsizes board – Yahoo News

BERLIN (Reuters) – German automotive parts maker Continental introduced plans for a restructuring Which will mix from The start of subsequent yr enterprise actions round connectivity, mobility, and extreme-efficiency computer systems, it sa…….

BERLIN (Reuters) – German automotive parts maker Continental introduced plans for a restructuring Which will mix from The start of subsequent yr enterprise actions round connectivity, mobility, and extreme-efficiency computer systems, it said on Thursday.

Its tires enterprise and the ContiTech division, focused on rubber utilized sciences, will Discover your self to be unbiased group sectors, whereas its Automotive Technologies department will Chop up inTo 5 enterprise areas collectively with A mannequin new Think about smart mobility and consumer expertise, A press launch said.

The restructuring is An further step by Continental to reorganise its enterprise after spinning off its powertrain unit Vitesco in mid-September.

“Mobility of The Prolonged time period is sustainable, automated and related,” Chief Authorities Nicola Setzer said in A press launch. “We’re thus Benefiting from the potential launched by our distinctive strong know-how place in all Of these fields.”

As An factor of the restructuring, administration board members Helmut Matschi and Frank Jourdan will step down, almost three yrs earlier than The prime of their contracts. That will shrink Continental’s board To 5 members from Jan. 1.

(Reporting by Victoria Waldersee; Modifying by Maria Sheahan)

Source: https://news.yahoo.com/continental-restructures-technology-unit-downsizes-123954335.html

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