Rolf Koerfer, the embattled chairman of the German tyre and car parts maker Continental, is set to offer to leave his post on Wednesday as part of a compromise that will also lead to the removal of Karl-Thomas Neumann, Conti’s chief executive.

The impending departure of both men is the latest upheaval at Conti arising from its troubled relationship with Schaeffler, the privately held car parts maker that grabbed control of its rival last year.