At its meeting Aug. 23, the supervisory board of Continental AG decided upon the appointment of Karl-Thomas Neumann as new executive board chairman, effective Sept. 1.

Neumann has been a member of the Continental Executive Board since October 2004 and is succeeding Manfred Wennemer, who was granted early release from his duties, effective Aug. 31.

A newly created position, that of deputy chairman of the executive board, will be assumed by Alan Hippe, CFO of Continental AG and president of Continental Tire North America, who is also responsible for the passenger and light truck tires division. In addition, as of Oct. 1, Hippe will receive responsibility of the ContiTech division from Gerhard Lerch, who is retiring.

There is no word on any possible replacements for Hippe as CFO or as president of CTNA. (Courtesy of Tire Review/Tyres & Accessories)