Conti Names Replacement for “Controversial” Koerfer
The seat on Continental AG’s Supervisory Board left vacant by Rolf Koerfer’s resignation on November 29 is to be filled by Professor Siegfried Wolf. The 53-year old Austrian, who is also chairman of the Board of Directors at Russian Machines OJSC, was nominated to the Conti board on December 4; Wolf’s nomination received the Board’s unanimous support and his appointment will be applied for at the local court in Continental’s home town of Hannover, Germany early this week.
“I am pleased about the support of Prof. Wolf as a new member of Continental’s Supervisory Board that we will enhance with a renowned as well as experienced expert of the international automotive industry,” said the chairman of Continental’s Supervisory Board, Prof. Dr. Ing. Wolfgang Reitzle. He expressed his appreciation for Rolf Koerfer for his dedication and contributions.
Described in the media as a “controversial” figure due to his role as a top legal advisor to major shareholder Shaeffler, Koerfer formerly served as chairman of the Supervisory Board before his replacement by Reitzle on October 19. According to an official Continental press release, Koerfer “expressed his willingness” to step down from his post as chairman.