Former Ford Exec Becomes Continental Chairman
By Michelle Krebs October 20, 2009Former Ford executive Wolfgang Reitzle has been named chairman of the supervisory board 
of auto supplier and tiremaker Continental.
A lieutenant of former Ford CEO Jacques Nasser and head of Ford's now-defunct Premier Automotive Group, Rietzle is chief executive of Linde AG, an industrial gases and engineering company.
Reitzle remains one of Germany's most high-profile executives and must lead Continental through the economic downturn and deal with an ugly take-over situation.
The smaller Schaeffler Group launched a hostile takeover of Continental and is now its largest shareholder. The company has nearly $30 billion in debt as a result.
Reitzle worked his way through the ranks of BMW and joined Ford in 1999 to head PAG, which then included Jaguar, Volvo, Aston Martin and Land Rover. Ford disbanded PAG with the sale of all but Volvo, which is on the auction block.
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