- Supervisory Board of Continental AG renews contract of Executive Board Chairman Dr. Elmar Degenhart for another five years, through August 2019
- Frank Jourdan appointed new Executive Board member for Chassis & Safety division
Hanover and Frankfurt/Main, September 25, 2013. At today's meeting, the Supervisory Board of Continental AG, Hanover, made two important personnel decisions concerning the company's Executive Board. It renewed the appointment of the incumbent Executive Board Chairman, Dr. Elmar Degenhart (54), for another five years, through August 2019. It also appointed Frank Jourdan (53), head of the Vehicle Dynamics business unit and thereby installed him as new Executive Board member, effective immediately. He will be Chairman of the Management Board for the Chassis & Safety division taking over from Dr. Ralf Cramer (47), also an Executive Board member, who, since August 1, 2013, has been at the helm of Continental China, headquartered in Shanghai.
"In the past four years, Dr. Elmar Degenhart has considerably helped to bring Continental AG back into the fold of DAX 30 companies and make it more sustainable as an innovative technology supplier. The members of the Supervisory Board unanimously honor his outstanding performance and reaffirm their trust," says Supervisory Board Chairman Prof. Dr. Wolfgang Reitzle, referring to the reappointment.
"In Frank Jourdan, we have entrusted a very experienced, innovative, and internationally focused manager with overseeing the Chassis & Safety division. We have every faith that he will succeed in following the successful path of profitable growth mapped out by Dr. Ralf Cramer in the past few years," adds Reitzle.
Degenhart has been the company's Executive Board Chairman since August 12, 2009. His present term ends in August 2014. Under his aegis, Continental AG has managed to successfully cope with the consequences of the global sovereign debt and financial crisis. The move from being an exclusively tire and plastic manufacturer to a technology provider focused primarily on the mobility and transport industries worldwide is well underway.
The ongoing positive development results from above-average growth in market perspective, increased efficiency, and reduced debt. It culminated in the company making a comeback onto the DAX 30, the German premier league stock index, in September 2012. Last year, the Continental share value rose 80 percent, making it the strongest price increase on the DAX. This year it has already attained a new record high.
"I am delighted to be able to continue putting all my strength and energy into the journey we're on. The Continental team has already proven time and again the potential that it can bring to bear. I am convinced that we can and will successfully tackle the challenges that lie ahead of us as an industry, increase our own competitiveness, and help shape the future of personal mobility with our innovative systems and technologies," says Degenhart. His direct areas of responsibility include Corporate Communications, Corporate Quality and Environment, Continental Business System, and various central functions in the Automotive Group. Since August 1, 2013, he has also managed the Chassis & Safety division on a temporary basis.
Recognized in the company, new to the Executive Board
A native of Büttelborn, Hesse, Germany, Frank Jourdan is the father of four children. He joined the company in 1988. His professional career includes stints both in and outside of Germany. Between 2000 and 2003, he set up the production of wheel speed sensors for electronic brake systems in Silao, Mexico, for Continental Automotive Mexicana. Back in Frankfurt, Jourdan managed the newly created Sensorics product area as of 2003.
From 2006 through 2009 he put his career at Continental on hold to serve as general manager for operations at Keiper GmbH & Co. KG, Kaiserslautern, Germany. As Executive Vice President, Jourdan has run the Electronic Brake Systems (EBS) business unit since October 2009. When the Suspension Systems and Chassis Electronics segments were combined into EBS in September 2013, the range of products in the area of driving dynamics was broadened and the name of the business unit changed to Vehicle Dynamics (VED).
Under Jourdan's management, VED develops and produces electronic brake systems (e.g. ABS and ESC), software solutions for chassis and braking control, suspension systems, and systems for networking electronic chassis and driving safety systems. In 2011, his team won the ÖkoGlobe international environmental prize for a regenerative brake system specifically designed for hybrid vehicles.