Philip Nelles has officially been appointed as the new CEO of Continental’s ContiTech business area.
Continental’s supervisory board appointed Philip Nelles to its executive board as the successor to Hans-Jürgen Duensing. For personal reasons and at his own request, Duensing was relieved of his responsibilities with effect from May 31, following 35 years of dedicated service to the company and its customers.
In his new role, Nelles stands committed to driving the unit’s ongoing transformation as a provider of innovative solutions for a highly industrial clientele. “We consider it our corporate responsibility to develop cutting-edge materials and innovative technologies together with and for our diversified customers,” he said. “Sustainability is equally an enormous chance and a key driver for innovations for new and completely changed future business models. This enables us to not only stay on top of the evolving needs of ever-changing markets, but also to do our part in fulfilling the societal responsibilities to which the entire company group stands committed.”
The company says that beyond this, ContiTech is also committed to increasingly leveraging the business opportunities emerging in Asia’s growth markets. Another priority high on the business unit’s agenda is reducing its dependency on the automotive industry’s business cycles by further diversifying its customer portfolio.
Last year, roughly $220 million (180 million euros) were invested in the modernization and expansion of ContiTech’s production facilities around the globe. Investment was below that of the previous year due to the effects of the pandemic.
