Conti’s CFO to head car parts, tire divisions

Hanover (Thomson Financial) -- Continental said it is searching for a new chief financial officer to replace Alan Hippe who takes over the passenger car tire and ContiTech divisions.

The German automotives parts specialist said Hippe will continue to be CFO until a successor has been found.

Hippe will take over the passenger car tire division from CEO Manfred Wennemer as of April 1, and will be in charge of the ContiTech division from Sept 30 when Gerhard Lerch, currently head of ContiTech, will retire.

The two divisions were Continental's second- and third-largest in terms of turnover before the integration of VDO, which Continental acquired last summer.

A spokesman for Continental declined to elaborate on the management reshuffle, but said Hippe has been successful in turning around Continental's North American tire operations.

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