Reorganization of the executive board of Continental AG

The supervisory board of Continental AG agreed on the reorganization of the company's executive board. Effective immediately, the supervisory board of Continental AG appointed Dr. Elmar Degenhart, formerly president of the Schaeffler Group?s automotive division, as chairman of the executive board of Continental AG. Dr. Ralf Cramer, Helmut Matschi and Nikolai Setzer were also appointed to the Continental executive board. Rolf Koerfer is prepared to pass on his post as Chairman of the Supervisory Board to an external successor as soon as a new chief financial officer has been found and the reorganization of the executive board has been concluded. This is to be effected as soon as possible. Afterwards, Rolf Koerfer will continue to advance the merging of Schaeffler and Continental as a member of the chairman's committee. Rolf Koerfer still enjoys the unfailing confidence of the Schaeffler Group. 揟oday's decisions clear the way for a trust-based collabo ration between the two companies in the interest of their customers. With Elmar Degenhart, an excellent manager assumes the leadership of Continental AG. The executive board has been strengthened with the three proven specialists, Dr. Ralf Cramer, Helmut Matschi and Nikolai Setzer. We expect that the new executive board will work together in a constructive and resultoriented manner,?said Dr. J黵gen Gei遡nger, Schaeffler Group president and CEO.Shop Women's Sneakers by Brand