Continental restructures business focusing on technology

Germany-based car parts maker Continental announced plans for a restructuring that will combine business activities around connectivity, mobility, and high-performance computers.
Continental and IT investment
Continental does not reveal its IT spending or investment in technology related areas in the coming years.

Its tires business and the ContiTech division, focused on rubber technologies, will become independent group sectors, while its Automotive Technologies branch will split into five business areas including a new focus on smart mobility and user experience.

The restructuring is a step by Continental to reorganise its business after spinning off its powertrain unit Vitesco in mid-September.

“Mobility of the future is sustainable, automated and connected,” Continental  Chief Executive Nicola Setzer said. “We are thus making the most of the potential presented by our unique strong technology position in all of these fields.”

As part of the restructuring, management board members Helmut Matschi and Frank Jourdan will step down, nearly three years before the end of their contracts. That will shrink Continental’s board to five members from Jan. 1.