Transportation

Continental Gears Up for Industrial Unit Sale as New CEO Named

Outgoing Continental AG Chief Executive Officer Nikolai Setzer, left, with Christian Kötz

Photographer: NIgel Treblin/Continental AG

Continental AG appointed Christian Kötz to lead the German tire maker as it prepares to sell its ContiTech industrial unit, the final step in its breakup plan.

Kötz, 55, will replace outgoing Chief Executive Officer Nikolai Setzer, 54, as part of a planned succession as the company focuses on its tire business, Continental said Wednesday.