23 Jun, 2024

Continental CFO won’t extend contract

Continental’s CFO, Katja Garcia Vila, will not extend her contract and plans to leave the auto supplier she joined nearly three decades ago.

Garcia Vila, 51, became CFO in December 2021 and will stay on until a successor has been found, the company said Monday. Her contract expires in December.

Continental is going through a major revamp to improve returns at its struggling auto unit, including more than 7,000 job cuts and site closures.

Garcia Vila is leaving “because of her own career planning,” the supplier said in a news release.

She started her career at Continental in 1997 and held positions in information technology, marketing, sales, logistics, auditing and purchasing before becoming head of systems and standards in corporate finance in 2008. She was named head of group audit worldwide in 2013, and in 2018 moved to the ContiTech business area as head of finance, controlling and IT. Garcia Vila was named CFO in December 2021 and joined the executive board.

“Katja Garcia Vila played a key role in developing the company’s strategy for realignment and launching it over the past year, thus laying the foundation for our successful future” CEO Nikolai Setzer said in the release.

Continental late

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Jaguar Land Rover pushes back BEV rollout, focuses on plug-ins

Mardell indicated that the more mainstream EMA cars would come 12 months after the two electric Range Rovers, with the Jaguar models following after that.

Mardell said JLR would be prepared to delay the launch of the Range Rover Electric to ensure the EV was perfect. “If it takes a few more months to get to that point, then the team will be allowed it,” he said.

JLR said 16,000 people had joined the waiting list for Range Rover Electric. The company has not disclosed prices, although JLR Chief Financial Officer Richard Molyneux said on the earnings call that the EV’s price would be high enough to keep the company’s much improved profit margins.

Automakers have seen demand for EVs cooling, especially at the higher end of the market, which has had a knock-on effect on development. “What you have seen from other OEMs is that the race to BEV is starting to stutter a little,” Mardell said.

Plug-in demand ‘surprise’

JLR has navigated the collapse in demand for diesel vehicles with a shift to plug-in hybrids, which it now offers across its Land Rover lineup, as well as on the Jaguar F-Pace and E-Pace SUVs.

Last year across Europe,

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February US auto sales: Hyundai rebounds, Kia slips again

February US auto sales: Hyundai rebounds, Kia slips again | Automotive News

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