Press Statement Statement by the Employee Representatives of Continental AG on the Review of the Corporate Split

Christiane Benner, First Chairwoman of IG Metall and Deputy Chairwoman of the Supervisory Board at Continental, Francesco Grioli, member of the IGBCE Executive Board and of the Continental Supervisory Board, and Hasan Allak, Chairman of the Group Works Council and member of the Supervisory Board of Continental AG, in a joint statement as follows:

After many detours, Continental’s decision to consider a spin-off of the automotive division is the last exit before the dead end. The top priority now must be to provide employees with clear prospects and achievable goals as quickly as possible.

What is needed now are viable business models and solid capitalization for all parts of the company. It is crucial to be able to invest heavily—in innovations as well as in job security. These elements send important signals not only to investors but, above all, to the employees. Without them, nothing will work! Since the beginning of the transformation at Continental, it has been primarily the employees who have had to bear the burden of the restructuring. This must finally come to an end.

Collective bargaining agreements and comprehensive employee participation are therefore crucial prerequisites for us as the process moves forward. There must be no regression to a state worse than the status quo. For years, employee representatives at all levels have put forward comprehensive proposals for shaping the company’s future. Their voices must now be heard.