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Ziebart resigns as President & CEO of Infineon

26 May 2008 | By Síle Mc Mahon | Going Places

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Wolfgang ZiebartInfineon Technologies, President & CEO, Dr. Wolfgang Ziebart (pictured) has resigned from the company, effective June 1, 2008. Peter Bauer, Member of the Management Board will assume the position as ‘Spokesman of the Management 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,” commented Max Dietrich Kley, Chairman of the Infineon Supervisory Board. “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” program the necessary and already initiated measures and programs. This will allow us to further improve the company’s strengths and to accelerate the operational execution of the strategic re-alignment.”

Media reports cited boardroom disagreements over the future direction of Infineon. In particular, rumors that Ziebart was apposed to the rumored merger with NXP.

The “IFX 10-Plus” business plan that Bauer will oversee includes focus on manufacturing cost savings as well as organizational efficiencies but no further details were given. Infineon said in a statement that further details would emerge in the next few weeks.

In September 2004 Dr. Ziebart became the Chairman of the Management Board at Infineon Technologies AG after four years at automotive supplier Continental.

Peter Bauer started his career at the Semiconductor Division of Siemens in 1986, which was later spun-off as Infineon. Most recently, Bauer was in charge of Infineon’s Automotive, Industrial and Multimarket (AIM) Business Group.

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