Arunjai Mittal Becomes Management Board Member Responsible for Sales, Marketing and Strategy Development at Infineon - Industrial & Multimarket Business Divided into Two Divisions
Neubiberg, Germany – October 28, 2011 – The Supervisory Board of Infineon Technologies AG resolved yesterday to extend the Management Board by one member. Arunjai Mittal is appointed to the Management Board effective January 1, 2012. The Management Board will, thus, consist of four persons in future.
The Industrial & Multimarket (IMM) business will be divided into two divisions, Power Management & Multimarket (PMM) and Industrial Power Control (IPC), effective January 1, 2012. The Chip Card & Security (CCS) Division and Automotive (ATV) Division will remain as they are.
Infineon has developed into a successful, stable company with sustainable growth prospects. By focusing on energy efficiency, mobility and security with its market-leading products and system solutions, Infineon addresses areas of high economic significance and social relevance.
“A precondition for continuous success is a thorough understanding of our customers´ future requirements. Asia and, in particular, China offers great market potential. Therefore the Supervisory Board has decided to appoint a further Management Board Member, who will continue to push ahead the market penetration particularly in the growth regions. Sales, Marketing, Strategy Development and M&A, are under his responsibility,” says Wolfgang Mayrhuber, Chairman of the Supervisory Board of Infineon Technologies AG.
Arunjai Mittal, who currently heads the Industrial & Multimarket (IMM) Division, will join Infineon’s Management Board on January 1, 2012. Arunjai Mittal has successfully developed Infineon’s IMM business, boosting revenue and profitability as well as expanding the customer base and product portfolio.
“Given his background, his education, his experience in the global semiconductor industry and his international career he is best suited for successful implementation of these new tasks. I’m delighted that Arunjai Mittal will contribute his intercultural expertise and his global connections with customers and business partners to Infineon’s Management Board team,” says Wolfgang Mayrhuber.
Arunjai Mittal new member of the Management Board
Arunjai Mittal is the long-standing Head of the Industrial & Multimarket (IMM) Division. In his role as member of the Management Board, he will be responsible for the Regions, Sales, Marketing, Strategy Development and Mergers & Acquisitions (M&A). Therewith he will be responsible for drawing up and agreeing possible strategy options. Peter Bauer, as the CEO of Infineon Technologies AG, is and remains responsible for the overall strategy of the company and its divisions. The responsibilities of Dr. Reinhard Ploss and Dominik Asam on the Management Board remain unchanged.
In the positions supporting the Management Board, Ulrich Pelzer will remain responsible for Investor Relations and will take over as Head of Finance & Treasury from January 1, 2012. He will report to the CFO Dominik Asam.
Industrial & Multimarket to form two divisions
The Industrial & Multimarket (IMM) Division will be divided into two business units effective January 1, 2012. The industrial electronics business has seen very strong growth and increasing complexity over the recent years. The new structure focuses on the two main target markets in organizational terms. Furthermore, it ensures targeted growth in these markets. The new Industrial Power Control (IPC) Division will concentrate on businesses in the field of drive electronics and renewables. These cover semiconductor components for electrical drives in industrial applications, such as for machines and locomotives, and energy generation applications like solar and wind power plants. The new Power Management & Multimarket (PMM) Division will concentrate on businesses in the field of energy-efficient power supplies and high frequency applications. These are mainly used in consumer goods such as television sets, games consoles, PCs, mobile devices and in computer servers.
“Dividing the Industrial & Multimarket business unit into two divisions enables us to respond faster and more flexibly to customers’ needs and market requirements as business grows strongly and the applications become increasingly complex,” says Peter Bauer, CEO of Infineon Technologies AG.
Dr. Helmut Gassel, currently in charge of Chip Card & Security, will head the new Industrial Power Control (IPC) Division. Dr. Stefan Hofschen will take over as Head of the Chip Card & Security Division. He is currently a member of the board of the Automotive Division. Peter Schiefer will be in charge of the new Power Management & Multimarket (PMM) Division. He is currently a member of the board of the Industrial & Multimarket Division. Dr. Helmut Gassel, Dr. Stefan Hofschen and Peter Schiefer have long-standing, successful track records in various central and international management roles at Infineon.
From January 1, 2012 onwards, the core business of Infineon Technologies AG will therefore encompass four divisions: Automotive (ATV), Chip Card & Security (CCS), Industrial Power Control (IPC) and Power Management & Multimarket (PMM).
Infineon Technologies AG, Neubiberg, Germany, offers semiconductor and system solutions addressing three central challenges to modern society:
security. In the 2010 fiscal year (ending September 30), the company reported sales of Euro 3.295 billion with approximately 26,650¹ employees worldwide. With a global presence, Infineon operates through its subsidiaries in the U.S. from Milpitas, CA, in the Asia-Pacific region from Singapore, and in Japan from Tokyo. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY). Further information is available at www.infineon.com.
¹ Mentioned number of employees contains about 3,075 employees of the wireless mobile phone business (Wireless Solutions), which was sold to Intel Corporation.
JPG | 1.32 mb | 2362 x 3508 px