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MarketScreener Homepage  >  Equities  >  Xetra  >  Continental AG    CON   DE0005439004

CONTINENTAL AG

(CON)
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Continental : Organizational Changes in Management Board of Continental's Chassis & Safety Division

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04/05/2019 | 07:42am EDT

Matthias Matic is new Head of Vehicle Dynamics Business Unit as successor to Felix Bietenbeck.

Dr. Bernhard Klumpp succeeds Matthias Matic in Hydraulic Brake Systems Business Unit

Laurent Fabre takes over Passive Safety & Sensorics Business Unit from Dr. Bernhard Klumpp

Organizational changes took effect April 1, 2019

Continental's Chassis & Safety division, which specializes in safety technologies, has had three of its four business units under new management since April 1, 2019. These changes are part of Continental's realignment and ensure continuity in the Chassis & Safety management team.

Matthias Matic is the new Head of the Vehicle Dynamics Business Unit. Dr. Bernhard Klumpp took over his position as Head of the Hydraulic Brake Systems Business Unit. Dr. Klumpp is succeeded by Laurent Fabre as Head of the Passive Safety & Sensorics Business Unit. Fabre was previously Head of the Electronic Chassis Components segment within the business unit. At the same time, Felix Bietenbeck left the company after almost 30 years at his own request. He had most recently been successfully managing the Vehicle Dynamics Business Unit since September 2013.

'I am delighted that my long-standing colleagues Matthias Matic and Dr. Bernhard Klumpp are driving forward the strategic realignment of the Chassis & Safety Division in their new roles. I would also like to welcome Laurent Fabre to the Management Board of our division. I wish all of them every success in mastering their new tasks,' said Frank Jourdan, Head of the Chassis & Safety Division and member of the Executive Board of Continental AG. 'At the same time, I would like to thank Felix Bietenbeck for his many years of successful collaboration with us. Under his leadership, the Vehicle Dynamics Business Unit has enjoyed strong growth. We very much regret that he is leaving and wish him all the best for his future career and private life,' added Jourdan.

Expert for Brake Systems: Matthias Matic takes over Vehicle Dynamics Business Unit

Matthias Matic

Matthias Matic, Head of the Vehicle Dynamics Business Unit

Continental AG

Matthias Matic is taking charge of the Vehicle Dynamics (VED) Business Unit, after having managed the Hydraulic Brake Systems Business Unit since 2013 in his previous position. With many years of experience in the product areas of electronic and hydraulic brake systems, he is a proven expert in this field. After several positions in engineering and project management, he has managed strategic planning and program management and later the Business Center for the Foundation Brakes in the Hydraulic Brake Systems Business Unit.

In 2008, he took charge of the Hydraulic Brake Systems Business Unit for the North America region. Before taking on this position as Head of the Hydraulic Brake Systems Business Unit, he was already responsible for the Chassis Components Business Unit worldwide, which included the product fields of Steering Systems, Air Suspension Systems, and Chassis Electronic Systems/ Components. The VED Business Unit develops and produces Electronic Brake Systems, software solutions for Brake and Chassis Control, Air Suspension Systems as well as systems connecting Electronic Chassis and Safety systems. With rapidly changing requirements in the automotive environment, Matic will focus on efficiency in product development and operational execution at the highest quality standards while providing leading technologies and innovative products to our customers.

Dr. Bernhard Klumpp becomes new Head of the Hydraulic Brake Systems Business Unit

Dr Bernhard Klumpp

Dr. Bernhard Klumpp, Head of the Hydraulic Brake Systems Business Unit

Continental AG

Dr. Bernhard Klumpp is taking on management of the Hydraulic Brake Systems (HBS) Business Unit. Prior to this, he has been in charge of the Passive Safety & Sensorics Business Unit since 2012. At Continental, he headed the area of Industrial Engineering for Electronic Brake Systems before being appointed as a Managing Director of a Speed Sensor plant in Mexico and later of an ESC assembly facility in Germany. His responsibilities cover a product portfolio ranging from Disk Brakes, Parking Brakes, Drum Brakes, and Electric Parking Brakes to Brake Hoses and Washer Systems. In the light of 'Quality First', Dr. Klumpp will focus his broad experience on further standardization and operational improvement as well as preparing the business unit for future market requirements.

Laurent Fabre - promotion within the Passive Safety & Sensorics Business Unit

Laurent Fabre

Laurent Fabre, Head of the Passive Safety & Sensorics Business Unit

Continental AG

Laurent Fabre is taking over the Passive Safety & Sensorics (PSS) Business Unit from Dr. Klumpp and moving into Chassis & Safety Division management as a new member. His most recent position was the Head of the Electronic Chassis Components segment within PSS. Prior to this, he managed Synerject's Business Development and Sales and Marketing before becoming General Manager there. He is now responsible for a product portfolio ranging from Chassis and Safety Sensor Technology to Occupant Safety Systems. He will begin with an overview of the whole business unit - primary the various plants, their competencies, and their people. Besides 'Quality First', Fabre will then concentrate on the development of the business units' product portfolio.

All business unit heads will report directly to Frank Jourdan in their new roles. The Chassis & Safety Division continues to consist of four business units: Advanced Driver Assistance Systems headed by Karl Haupt, Hydraulic Brake Systems headed by Dr. Bernhard Klumpp, Passive Safety & Sensorics headed by Laurent Fabre, and Vehicle Dynamics headed by Matthias Matic. In addition, the Chassis & Safety Division will be renamed 'Autonomous Mobility and Safety' at the beginning of 2020, and its business results will be reported under the new 'Automotive Technologies' group sector starting in fiscal 2020.

Contact

Soren Pinkow

Soren Pinkow

External Communications

Division Chassis & Safety

Phone: +49 69 7603-8492

E-mail: soeren.pinkow@continental.com

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2019 44 503 M
EBIT 2019 3 301 M
Net income 2019 2 057 M
Debt 2019 3 634 M
Yield 2019 3,82%
P/E ratio 2019 10,4x
P/E ratio 2020 8,47x
EV / Sales2019 0,56x
EV / Sales2020 0,53x
Capitalization 21 389 M
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Elmar Degenhart Chairman-Executive Board
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