Schaeffler attempts to oust Continental CEO -papers

Newswire

FRANKFURT, July 30 (Reuters) - Continental AG's controlling shareholder Schaeffler is aiming to oust Chief Executive Karl-Thomas Neumann and replace him with the bearing maker's own automotive chief, two German newspapers reported. Schaeffler tried to impose Elmar Degenhart as Neumann's replacement and install its own finance chief Klaus Rosenfeld in the still empty post of CFO at Continental, they said on Thursday. While Sueddeutsche Zeitung reported Neumann had resigned after failing ...

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