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[tcMag] Infineon loses its head

post #1 of 4
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Germany-based chip company Infineon Technologies has now confirmed that, effective June 1st, Dr. Wolfgang Ziebart will resign from his positions of CEO and President. The reason for Ziebart departure is apparently the differences in opinion over the future strategic orientation of the company.

"We would like to thank Mr. Ziebart for his efforts and merits," said Max Dietrich Kley, Chairman of the Infineon Supervisory Board. "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."

Although Infineon's Board didn't say who will take the role of CEO, it announced that Peter Bauer, Member of the Management Board will take the position as Spokesman of the Management Board. In addition, the Management Board and the Supervisory Board have decided to start a new company-wide program, called "IFX 10-Plus". Essentially, the program comprises the following three central points:

- Margin improvement through optimized portfolio management
- Margin improvement through a stronger cutting of cost of manufacture
- Margin improvement through increasing the efficiency of the organization

More info about IFX 10-Plus program will be revealed in the following weeks, as soon as Infineon can get over Ziebart's departure.
__________________________________________________ _______________________________
Source


Quote:
The CEO of German chipmaker Infineon Technologies will step down next week, the company said Monday.

Wolfgang Ziebart, who has run the company since 2004, is leaving on June 1 "due to different opinions on the future strategic orientation of the company," Infineon said in a statement.

Peter Bauer, an executive vice president and head of Infineon's automotive, industrial, and multiple-market business group, will assume Ziebart's position as spokesman of the company's management board.

Bauer, who was CEO of Siemens Microelectronics in the 1990s, joined Infineon when chip operations were spun off from Siemens in 1999.

Infineon, which has been losing money recently, also announced a program to try to improve margins.

The company, which is based in Neubiberg, Germany, has about 43,000 employees and is one of Europe's biggest chipmakers.

Edited by Marin - 5/26/08 at 10:58pm
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post #2 of 4
They should've given some background info about Infineon >_>
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post #3 of 4
I thought the title meant that Infineon went crazy or something.
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post #4 of 4
lol XD
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