The Supervisory Board of Continental AG has cleared the way for the split-off of the Group. Employee representatives have also approved the spin-off of the Automotive division. Now, Continental shareholders must give their approval at the Annual General Meeting on April 25, 2025.
“For us as the employee representatives on the Supervisory Board of Continental AG, the necessary financial resources and the contractual framework for the spin-off have always been our top priority. To this end, the Executive Board has presented us with viable solutions that, from today’s perspective, meet our conditions: Automotive’s capital base is sufficient to launch its independent operations even amid adverse conditions. Now we need a clear strategy to get off to a strong start with innovative products. In addition, there is a future collective bargaining agreement for the automotive sector, with a vision-building process for site perspectives at its core. We have always made it clear: co-determination and collective bargaining coverage must be preserved in the new company. We have achieved this, and it is both right and important,” saidChristiane Benner, First Chairwoman of IG Metall and Deputy Chairwoman of the Continental Supervisory Board.
“As demanded, the remaining Rubber-Continental will not be unduly burdened. The remaining company needs the time, the financial resources, and a strategic growth plan to consistently further develop innovations in products and business models on a stable foundation. At ContiTech, colleagues have been shuffled from one reorganization to the next for years. In addition, the sale of the spun-off automotive business, OESL, is pending. Following the numerous plant closures, jobs must be secured for the long term. Rubber-Continental, too, therefore needs a forward-looking collective bargaining agreement for employment and locations in Germany,” emphasizedFrancesco Grioli, member of the IGBCE Executive Board and of the Continental Supervisory Board.
“Our colleagues at Continental have borne the brunt of the transformation so far. Tens of thousands of jobs have been cut worldwide since 2020, even in research and development. The focus of these drastic cuts has been—and remains—Germany. On top of that came the spin-off of the Automotive division, which was carried out under enormous time pressure. This has left a deep mark and led to significant upheavals and strain in some cases. Now, employees finally need reliable prospects. The Supervisory Board and Executive Board must no longer confuse the necessary agility in business operations with constant changes in corporate strategies and ever-shifting objectives. It is high time that employees are able to focus on their core tasks and are no longer shuffled back and forth like chess pieces,” saidHasan Allak, member of the Continental Supervisory Board and Chairman of the Group Works Council.
Further information and press photos of Christiane Benner
