Nikolai Setzer will serve Continental AG as its CEO and chairman for the next five years.
Continental's board recently extended Setzer's appointment.
“Nikolai Setzer has our utmost trust and confidence," notes Wolfgang Reitzle, supervisory board chairman.
"Over the past three years, he has successfully initiated and rigorously pursued Continental’s transformation. He will guide the company toward a successful future."
In a statement issued by Continental, Setzer said, “I would like to thank the supervisory board for placing its trust in me. And I would like to thank my fellow executive board colleagues for their constructive and focused cooperation.
"We have faced considerable challenges in recent years. Together we have proven we are resilient in times of crisis and are well-positioned for the future.”
