Dr. Andreas von Zitzewitz steps down as Member of the Board of Infineon Technologies AG

Jul 16, 2005 | Business & Financial Press

Munich, Germany - July 16, 2005 - Effective immediately, Dr. Andreas von Zitzewitz, is stepping down as Member of the Board of Infineon Technologies AG. He informed today the Chairman of the Supervisory Board, Max Dietrich Kley, about his decision.

Dr. von Zitzewitz is under investigation based on allegations of Udo Schneider, Managing Director of BF Consulting GmbH. This is in context with payments made for contracts regarding motorsport sponsoring. The company immediately terminated all sponsoring engagements in motorsports as far as possible after the departure of the former CEO Dr. Ulrich Schumacher. Infineon Technologies AG is not under investigation and cooperates fully with the authorities.

Dr. von Zitzewitz declared his resignation, to spare the company the burden of the ongoing investigation and to be able to fully concentrate on the expected court case.

„We expect that the Supervisory Board will accept his resignation“, said Dr. Wolfgang Ziebart, CEO and President of Infineon Technologies AG. „We support the authorities in any way we can in their investigation. We are equally interested in a full clearing up of the situation“.

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