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Continental chairman von Grunberg steps down

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The chairman of Continental AG's supervisory board, Dr. Hubertus von Grunberg, "will lay down his position," effective immediately, according to Continental officials.

"He also will lay down his mandate as an ordinary member of the supervisory board with immediate effect and due to personal reasons. Until a new chairman can be voted on, the supervisory board will be led by (its) deputy chairman, Werner Bischoff."

Von Grunberg had been chairman of the supervisory board since 1999 and CEO of Continental from 1991 to June 1999.

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