<div id="readability-page-1"><div>Germany's Continental , which is undergoing a major overhaul to focus on its core tyre business, will get a new CEO at the turn of the year, with Christian Koetz appointed to take over from Nikolai Setzer, the company said on Wednesday.The change at the helm of the company comes as planned &#34;on the back of the significant progress made with Continental's realignment&#34;, a statement said.The supervisory board unanimously appointed Koetz at its meeting on Wednesday. The 55-year-old is set to take over as chief executive from January 1, the statement said.Setzer, 54, will step down by mutual agreement after more than 16 years as a board member and five years as CEO.Setzer had told the FAZ newspaper in April that he would step back if Continental's spin-off of its Contitech rubber and plastics division proceeded as planned.</div></div>

CTTAY

Christian Koetz has been appointed as the new CEO of Germany's Continental, effective January 1. He will replace Nikolai Setzer, who is stepping down by mutual agreement after 16 years on the board and five years as CEO. This leadership change follows significant progress in Continental's realignment to focus on its core tyre business.

Christian Koetz appointed CEO of German tyre maker Continental