UPDATE 3-Continental Q2 solid; CEO is asked to resign


* CEO Neumann asked to step down - source * Schaeffler aims to replace Neumann - reports * Directors to discuss fresh equity issue later Thursday * Debt, cash positions improve ahead of key board meeting * CEO expects to meet loan covenants through rest of year * Conti has 2 bln euros in cash and 2 bln in credit lines (Rewrites with source on Neumann) By Christiaan Hetzner and Arno Schuetze FRANKFURT/HANOVER, July 30 (Reuters) - Continental AG's chief executive was asked to ...

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