Continental names Olaf Schick as new CFO

Hanover, Germany – Continental AG has appointed Olaf Schick as the company’s new chief financial officer (CFO) effective 1 July.

Schick will maintain his previous position as head of group’s ‘integrity & law’ function, responsible for group law and IP, compliance, internal audit, quality management and risks and controls.

The move will, therefore, combine the integrity & law function with the finance function, Continental said 27 June.

Continental CEO Nikolai Setzer will take charge of group's IT activities, currently part of the finance function.

Setzer also oversees the central functions of group strategy, communications and public affairs, purchasing, contract manufacturing and the Chinese market.

Schick succeeds Katja Garcia Vila, who announced in March that she would not be seeking another term on the executive board of Continental.

The Continental executive board will thus be reduced from seven to six members.

Schick has been Continental’s board member for integrity and law since May 2023.

Prior to that, he was the CFO of Mercedes-Benz Group China and chief compliance officer at Daimler AG.

Schick has “defined and initiated the comprehensive implementation of a modern global compliance and risk management system for Continental,” Setzer commented in the announcement.

“Together, we will focus on implementing our strategy and the associated measures in order to meet our mid-term targets,” the Continental leader added.

Other Continental board members include: Dr Ariane Reinhart, responsible for human relations and sustainability; Christian Koetz, responsible for the Tires group sector; Philip Nelles, responsible for the ContiTech; and Philipp von Hirschheydt, head of Automotive group sector.