Olaf Schick leaves Continental in October 2025 - Mercedes-Benz appoints General Counsel

The automotive group Mercedes-Benz gets a new Chief Legal Officer: Olaf Schick, the current CFO and Board Member for Legal Affairs at Continental (ETR:CONG), will resign from his position on October 1, 2025, and return to his former employer. Both companies confirmed this personnel change on Wednesday.

For Continental (ETR:CONG), this move means that the Hanover-based automotive supplier and tire manufacturer group will need to recruit a new CFO soon. Schick began his role at Continental as Chief Legal Officer in May 2023 and has been responsible for the finance department of the DAX-listed company since July 2024.

Schick remains actively involved in the spin-off until his departure

The change comes at a sensitive time for Continental. Despite the planned removal, Schick will continue working on the preparation of the spin-off of the automotive business segment. “Until his departure, Olaf Schick will fully dedicate himself to the preparation of the planned spin-off and the intended stock market listing of Automotive,” said Wolfgang Reitzle, Chairman of the Supervisory Board of Continental (ETR:CONG).

The separation of the automotive segment is planned to be completed by the end of 2025 — provided that the Supervisory Board and the General Meeting approve the measure. For Continental, this restructuring is a milestone in the company’s reorientation.

Mercedes-Benz (ETR:MBGn) brings Schick back

At Mercedes-Benz (ETR:MBGn), Schick will continue his previous career and assume the position of Chief Legal Officer. This marks a comeback for the manager, who already has a long tenure at the Stuttgart automaker.

Continental announced that it will implement a successor plan for the CFO position at the appropriate time and ensure an adequate appointment.