Continental Unveils Plan for Automotive Spin-off and Begins Sale of ContiTech’s OESL Unit

The executive board of Continental informed the Supervisory board at a recent meeting of its decision to spin off its automotive group sector. Subject to the approval of the Supervisory Board in March 2025 and resolution by the Annual Shareholders’ Meeting of Continental AG on April 25, 2025, the current plan is to complete the spin-off of Automotive as a European company (Societas Europaea, SE) listed on the Frankfurt stock exchange by the end of 2025.

“Our entire team is highly motivated and focused on preparing for the spin-off. Short and mid-term targets for Automotive as an independent company will be disclosed at Automotive’s Capital Market Day,” Philipp von Hirschheydt, chairman, Automotive, said.

Additionally, the executive board stated that the independent entity will be led by Philipp von Hirschheydt, who has previously headed the group sector as a member of Continental’s Executive Board since May 2023.

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As part of ongoing efforts to strengthen the independence of Continental’s remaining group sectors, the ContiTech group sector will focus more on its industrial customers. The company’s business that supplies rubber products to automotive manufacturers, its Original Equipment Solutions (OESL), will be made independent in the near future as announced. The business area employing over 16,000 people in 16 countries, is being presented to potential buyers and partners. The sale process is expected to begin in the first quarter of 2025.

“The Executive Board’s decision is an important milestone in steadily increasing the value of Continental. I firmly believe that the Automotive spin-off will unlock new strengths, because focused companies are more agile, especially in times of transformation. The entire Supervisory Board supports this ambitious plan,” said Wolfgang Reitzle, chairman, Continental’s Supervisory Board.