Olaf Schick leaves Continental: CFO moves to Mercedes-Benz

Continental is facing a leadership change in its finance department. The current CFO Olaf Schick will leave the Hannover-based company on October 1, 2025, and return to his former employer Mercedes-Benz, where he will serve as Chief Legal Officer. This personnel development was confirmed on Wednesday by both companies.

A Key Figure in the Transformation Phase

Olaf Schick took on his position at Continental in May 2023 as Chief Legal Officer and expanded his responsibilities in July 2024 to include the financial management of the DAX-listed group. His upcoming departure comes at a critical phase for the company: Schick will remain actively involved in the preparations for the planned automotive spin-off until his departure.

Chairman of the Supervisory Board Wolfgang Reitzle emphasized that Schick will drive the spin-off preparations and the planned stock market listing of the automotive division “with full force.” This underscores the strategic importance of this transformation for Continental.

Spin-off as a Milestone by the End of 2025

The automotive business is to be spun off as an independent, publicly listed company. The completion of this spin-off is scheduled for the end of 2025 — but subject to approval by the Supervisory Board and the General Meeting.

Continental will then focus on its tire production and other core areas. Managing this significant restructuring simultaneously and preparing for the management transition place high demands on the company’s leadership.

Search for a Successor Begins

The Hannover-based company will need to recruit a new CFO to fill the gap left by Schick’s departure. The timeframe until October 2025 provides a realistic transition period for finding a suitable candidate with relevant experience in complex transformation processes.