TIMELINE-Continental, Schaeffler locked in power struggle

Aug 12 (Reuters) - Schaeffler Group claimed the scalp of auto parts maker Continental AG's (CONG.DE) Chief Executive Karl-Thomas Neumann on Wednesday after winning backing from labour representatives on the supervisory board for his dismissal. [ID:nLC675521]

Here is a timeline of events at the German car parts maker in the last year:

2008

July 30 - Bearings maker Schaeffler launches hostile 11.3 billion euro ($17.6 billion) bid for Continental.

Aug. 21 - Schaeffler wins control of Continental as the latter's management gives blessing to Schaeffler's offer. Continental CEO Manfred Wennemer, who had attacked Schaeffler as "egotistical, autocratic and irresponsible" after it covertly gathered 36 percent of Continental's stock, is ousted.

Aug. 23 - Karl-Thomas Neumann appointed chief executive.

Sept. 22 - Schaeffler wins unwanted and costly majority stake in Continental as investors snap up a full offer that had been made to satisfy regulatory requirements but whose low price became attractive as stock markets plummeted.

2009

Jan. 24 - Schaeffler names Rolf Koerfer, one of four supervisory board member candidates appointed by Schaeffler, as chairman after forcing out Hubertus Gruenberg.

Feb. 23 - Schaeffler says needs up to 6 billion euros ($7.8 billion) in fresh financing as the company again calls on the German government for help.

April 7 - Schaeffler gets 1 billion euro credit line from its banks to shore up its finances.

May 20 - Sources involved in the talks say Schaeffler is mulling a plan to sell big parts of its business to Continental.

June 8 - Continental will examine full merger with Schaeffler, says supervisory board Chairman Ralf Koerfer. CEO Neumann says talks with Schaeffler proceeding constructively.

July 30 - Neumann asked to resign.

Aug. 10 - Sources say Koerfer may relinquish position under possible compromise deal with Schaeffler.

Aug. 12 - Continental's supervisory board votes unanimously to dismiss Neuman. Koerfer agrees to step down once a management shake-up, including finding a new finance chief, is complete.

(Writing by Carl Bagh, Bangalore Editorial Reference Unit; Additional writing and editing by David Cutler; Editing by David Holmes)