UPDATE 1-Conti cap hike passes, but CEO loses power struggle

Newswire

* Neumann loses support of shareholder reps on board * Schaeffler needs simple majority to axe Neumann as CEO * Board approves plans for capital hike of up to 1.5 bln eur * Conti to then start debt restructuring talks with lenders (Adds details, background) HANOVER, Germany, July 31 (Reuters) - Continental AG won a vote to repair its finances but will likely lose its second chief executive in less than a year amid a bitter power struggle with German ball-bearings maker Schaeffler. ...

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