The Supervisory Board of Continental AG has cleared the way for the division of the group. The representatives of the employees also approved the spin-off of the automotive sector. Now the Continental shareholders have to agree at the general meeting on April 25, 2025.
“For us as an employee bank on the supervisory board of Continental AG, the necessary financial resources and the contractual framework for the spin-off were always the focus. For this, the board of directors introduced us to sustainable solutions that, from today’s perspective, meet our conditions: the capital resource of Automotive is sustainable for the start of independence, even in the middle of adverse framework. Now you need a clear strategy to start with innovative products. In addition, there is a future collective agreement for the automotive sector with a target image process for location perspectives as a heart. We have always made it clear: co -determination and collective bargaining must be preserved in the new company. We have achieved this and that is correct and important, “said Christiane Benner, first chairman of IG Metall and deputy Continental supervisory board chairman.
“As required, the remaining Rubber-Continental is not burdened with a fee. The remaining company needs the time, financial resources and a strategic growth strategy in order to consistently develop innovations in products and business models on a stable basis. At Contitech, the colleagues have been sent to the next by one reorganization for years. The sale of the separated automotive business Oesl is also due here. After the numerous location closings, the jobs must be secured sustainably. The Rubber-Continental therefore also needs a future collective agreement for employment and locations in Germany, “emphasized Francesco Grioli, member of the executive IGBCE head of the IGBCE and the Continental supervisory board.
“So far, the colleagues at Continental have worn the main load of the transformation. Tens of thousands of jobs have been destroyed worldwide since 2020, even in research and development. The focus of the clearing was and is Germany. On top of that, the spin-off came from Automotive with an enormous time pressure. This has left deep traces and led to sometimes considerable upheavals and loads. Now the employees finally need reliable perspectives. Supervisory Board and the Board of Directors may no longer confuse the necessary agility in business operations with a permanent change in corporate strategies and always new objectives. It is high time that employees can concentrate on their core tasks and that no longer be pushed back and forth as chess figures, “said Hasan Allak, member of the Continental Supervisory Board and Chairman of the Group’s Works Council.