Continental is getting reinforcements from the DIY store chain Hornbach ahead of the upcoming IPO of its automotive division.

Karin Dohm will be responsible for the finances of the automotive division from April, Continental announced on Thursday.

Karin Dohm will be responsible for the automotive division's finances from April, Continental announced on Thursday. The 52-year-old is currently CFO at Hornbach, but announced her departure before Christmas. This is a further milestone on the road to independence, said Continental board member Philipp von Hirschheydt, who is to take the automotive supply division public as CEO. Dohm replaces Claudia Holtkemper, who is taking on new responsibilities within Continental.

Continental wants to take the automotive business, which accounts for half of its employees and sales, public by the end of the year, subject to the approval of the supervisory board and the annual shareholders' meeting. Preparations should be completed by the end of September. The supervisory board will meet in March and the annual shareholders' meeting is on April 25. Conti has long struggled with weak margins in the automotive supply business, whose portfolio ranges from brakes to sensors and assistance systems to displays. The lucrative tire business remains in the group, while the plastics and rubber division ContiTech is to be geared even more strongly to industrial customers.

(Report by Christina Amann. Edited by Ralf Bode. For further inquiries, please contact our editorial team at Berlin.Newsroom@thomsonreuters.com)