Continental Delivers Stark Message to Managers to Shape Up
- Executives write letter urging them to shape up or lose out
- Continental has issued two profit warnings so far this year
Photographer: Akos Stiller/Bloomberg
This article is for subscribers only.
Continental AG executives have warned managers to shape up or the German car-parts maker could be in big trouble.
In a letter to roughly 400 managers seen by Bloomberg, Chief Executive Officer Elmar Degenhart and seven other top executives wrote that the world’s second-biggest automotive supplier was on the wrong track and “the train stops right here and now.” The shares fell to their lowest level in almost four years.