Von Grünberg resigns as Conti Chairman

ERJ staff report (DS)

Hanover, Germany -- Dr. Hubertus von Grünberg has resigned his position of Chairman of the Supervisory Board of Continental AG, with immediate effect from Friday evening. Dr von Grünberg has also resigned his mandate as an ordinary member of the Supervisory Board. In a statement, Conti said the decision came as a result of personal reasons.

Until a new Chairman can be voted on, the Supervisory Board will be led by the Deputy Chairman, Werner Bischoff.

Dr. von Grünberg has been Chairman of the Supervisory Board since 1999 and Chief Executive Officer of the company between 1991 and June 1999.

The resignation followed the Supervisory Board's adoption of shareholder proposals to nominate new representatives, including Mr. Georg Schaeffler, Partner of the Schaeffler Group and Ms. Maria Elisabeth Schaeffler, Partner of the Schaeffler Group.

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Press release from Conti (Dr. Hubertus von Grünberg)

Press release from Conti (Shareholder representation)