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Article: NEWS IN BRIEF.(News)
- Article from:
- Tire Business
- Article date:
- August 17, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Schaeffler exec takes Conti helm
HANOVER, GermanyContinental A.G. has appointed Schaeffler Group executive Elmar Degenhart chairman of its executive board to replace Karl-Thomas Neumann, who resigned the position Aug. 12 at a special meeting of the supervisory board.
Mr. Degenhart, 50, previously was chairman of the management board for Schaeffler's automotive unit. He also takes charge of Conti's powertrain division.
Herzogenaurach, Germany-based Schaeffler is Conti's largest shareholder, holding 49.9-percent of Conti's shares directly and another 45 percent or so indirectly.
Mr. Neumann, 48, agreed to step down from the job he's held ...