Continental AG Announces Roland Welzbacher as Future CFO
Company - People | Apr 28, 2025 | EIN
Continental AG, headquartered in Hanover, Germany, has appointed Roland Welzbacher as its new Chief Financial Officer (CFO). The announcement came following the early termination request from the current CFO, Olaf Schick, effective December 2024, and subsequent approval by the company's Supervisory Board on December 18, 2024. Welzbacher's official takeover as CFO is scheduled for October 1, 2025, after a joint transition period with Schick, who will depart from his role on September 30, 2025. Schick is set to join the board of management at Mercedes-Benz Group AG the following day. The role transition is concurrent with the planned spin-off of Continental's Automotive group sector and the eventual independence of the ContiTech group sector. This realignment directs Continental AG's future focus towards the tire industry. Welzbacher, with 22 years of experience at Continental and notable international and finance expertise, especially in mergers and acquisitions, is set to play a crucial role in guiding the company's restructuring process. The announcement underscores the strategic moves Continental is making as it refocuses its operations.
Sectors
- Automotive
- Industrial Manufacturing
- Corporate Finance and M&A
Geography
- Germany – Continental AG is headquartered in Hanover, Germany, and the company's operations and management changes are primarily based in Germany.
Industry
- Automotive – The article involves Continental AG, a corporation heavily involved in the automotive sector, focusing on tires and the spinoff of its automotive group.
- Industrial Manufacturing – Continental AG operates in the industrial manufacturing sector with its focus on tires and related technologies.
- Corporate Finance and M&A – The appointment of a CFO with extensive experience in mergers and acquisitions prepares Continental AG for financial restructuring and potential M&A activities.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Roland Welzbacher | Future CFO | Person | Appointed to take over as CFO of Continental AG, effective October 1, 2025. |
| Olaf Schick | Outgoing CFO | Person | Current CFO of Continental AG, transitioning to Mercedes-Benz Group AG. |
| Continental AG | Company | Company | A major global player in the automotive and tire industry. |
| Mercedes-Benz Group AG | Future Employer of Olaf Schick | Company | An automotive corporation that Olaf Schick will join after departing from Continental AG. |
| Hypo Consult GmbH | Former Employer | Company | Where Roland Welzbacher worked as a mergers and acquisitions consultant before joining Continental. |