Continental AG's CEO to leave -deputy chairman

Newswire

HANOVER, July 30 (Reuters) - Schaeffler aims to gather enough support to remove Continental AG's Chief Executive Karl-Thomas Neumann from office through an arbitration process, Continental's Deputy Chairman Werner Bischoff said. Such a process requires just a simple majority rather than a two-thirds majority. Bischoff said late on Thursday following a supervisory board meeting, Neumann had lost the support of the shareholder representatives, controlled by delegates from Schaeffler. "A ...

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