News Article
Reshuffle at Infineon
Dr. Wolfgang Ziebart to resign as CEO of Infineon, Peter Bauer assume spokesman of management board and a new programme launched to improve results
With effect of June 1, 2008, the CEO and President of Infineon Technologies AG, Dr. Wolfgang Ziebart, resigns positions with the company due to different opinions on the future strategic orientation of the company. Peter Bauer, member of the management board will assume the position as spokesman of the management board. Furthermore, supervisory board and management board have decided the “IFX Plus-10” program to improve the company’s results. In recent meeting, the supervisory board has unanimously declared its vote of confidence for the Chairman Max Dietrich Kley.
Max Dietrich Kley, chairman of the Infineon supervisory board: “We would like to thank Mr. Ziebart for his efforts and merits. He took over the position as CEO four years ago in an extremely difficult situation. At today’s meeting, the supervisory board appreciated Mr. Ziebart’s efforts. With his vast experience, Peter Bauer will focus on executing and expanding according to the IFX 10-Plus programme, the necessary and already initiated measures and programmes. This will allow us to further improve the company’s strengths and to accelerate the operational execution of the strategic realignment.”
During his term of office, Ziebart strategically repositioned the company and amongst others carved out the memory business to form a separate legal entity, Qimonda, which was listed at the NYSE in August 2006. Operative results of the core business improved considerably during this period. Last year, Infineon got back into the top ten semiconductor companies due to its superior growth.
Peter Bauer: „Infineon’s technology and market position is outstanding in various areas. If we continue to further focus our resources and execute our measures thoroughly and fast, we have good chances for a prosperous future. During the last years, the future direction of the company has been largely set. But we have to execute and, if necessary extend, our measures step by step and at high speed. I look forward to contribute to achieve our goals together with our highly qualified employees.”
In addition, the Management Board and the Supervisory Board have decided to start a new company wide programme, called IFX 10-Plus. Essentially, the program comprises the following three central points:
- Margin improvement through optimised portfolio management
- Margin improvement through a stronger cutting of cost of manufacture
- Margin improvement through increasing the efficiency of the organisation
Details of the IFX 10-Plus programme will be specified and defined in the following weeks.
Max Dietrich Kley, chairman of the Infineon supervisory board: “We would like to thank Mr. Ziebart for his efforts and merits. He took over the position as CEO four years ago in an extremely difficult situation. At today’s meeting, the supervisory board appreciated Mr. Ziebart’s efforts. With his vast experience, Peter Bauer will focus on executing and expanding according to the IFX 10-Plus programme, the necessary and already initiated measures and programmes. This will allow us to further improve the company’s strengths and to accelerate the operational execution of the strategic realignment.”
During his term of office, Ziebart strategically repositioned the company and amongst others carved out the memory business to form a separate legal entity, Qimonda, which was listed at the NYSE in August 2006. Operative results of the core business improved considerably during this period. Last year, Infineon got back into the top ten semiconductor companies due to its superior growth.
Peter Bauer: „Infineon’s technology and market position is outstanding in various areas. If we continue to further focus our resources and execute our measures thoroughly and fast, we have good chances for a prosperous future. During the last years, the future direction of the company has been largely set. But we have to execute and, if necessary extend, our measures step by step and at high speed. I look forward to contribute to achieve our goals together with our highly qualified employees.”
In addition, the Management Board and the Supervisory Board have decided to start a new company wide programme, called IFX 10-Plus. Essentially, the program comprises the following three central points:
- Margin improvement through optimised portfolio management
- Margin improvement through a stronger cutting of cost of manufacture
- Margin improvement through increasing the efficiency of the organisation
Details of the IFX 10-Plus programme will be specified and defined in the following weeks.
