Continental announced on Thursday the appointment of Olaf Schick, a 52-year-old senior executive, to the position of CFO, effective July 1.

In addition to taking charge of finance and controlling, Olaf Schick will retain his current responsibilities in legal matters, as well as in intellectual property, compliance, internal audit, quality management and risk control.

Nikolai Setzer, Managing Director of the German automotive supplier, will take over responsibility for IT, which until now has been part of the Finance department.

Olaf Schick will succeed Katja Garcia Vila, also 52, whose contract is due to expire at the end of the year.

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