Continental CEO Elmar Degenhart is stepping down amid a push by the supplier to overhaul management and speed up structural changes.
Degenhart, 61, is resigning his post “for reasons of immediately necessary preventive health care,” Continental said in a statement on Thursday.
The company did not name Degenhart’s successor. It said its supervisory board will meet shortly to decide on the appointment of a new CEO.
Degenhart will be succeeded by the head of the supplier’s core automotive operations, Nikolai Setzer, Bloomberg reported, citing people familiar with the matter.