Infineon reinforces the Management Board to continue the successful growth strategy

May 18, 2016 | Business & Financial Press

Munich – May 18, 2016 – The Infineon Technologies AG enlarges its Management Board from three to four members. The decision was made by the Supervisory Board of Infineon today. Thus the management team is reinforced to continue its successful course after the strong growth in recent years and the successful integration of International Rectifier, the largest acquisition in the history of Infineon. The Management Board highly appreciates this decision.

Effective from July 1, 2016 Jochen Hanebeck, currently Division President Automotive, is appointed as Member of the Board for the newly introduced Operations department. Infineon today produces in 19 factories on three continents with highest quality standards and a strong focus on innovation. Likewise effective from July 1, 2016 Dr. Helmut Gassel, currently Division President Industrial Power Control, is appointed as Member of the Board for Strategy Development, Sales & Marketing and Regions. This is because Arunjai Mittal, currently as Member of the Board responsible for these departments, will leave Infineon due to family reasons effective September 30, 2016.

„Since the beginning of the decade the revenue of Infineon has nearly doubled. For the current fiscal year we expect a double digit growth rate as well. Thanks to the growth strategy the work for the Management Board has become massively more demanding. Infineon is strong, with a broad basis and globally active. To enable the unabated continuation of the successful work in the light of growing complexity, we enlarge the Management Board. The Supervisory Board had considered such a step for quite some time. I am especially pleased that the reinforcement comes from the own ranks,” says Wolfgang Mayrhuber, Chair of the Supervisory Board of Infineon.

In addition the Supervisory Board has accepted with the deepest regret the request by Arunjai Mittal, Member of the Board, to leave Infineon effective September 30, 2016. The Supervisory Board wants to thank Arunjai Mittal particularly for his readiness to see the transition through to Helmut Gassel, his successor. “Our great joy over the reinforcement of the Management Board is mingled with large regret. It is heavy heartedly and with the greatest respect that the Supervisory Board has accepted the request of Arunjai Mittal to leave Infineon due to family reasons. Over many years Mr. Mittal has successfully pushed forward the power semiconductor business of Infineon, since 2012 he served as a Member of the Board. We are very thankful for his outstanding performance. We lose an inspiring expert of the semiconductor industry. He has contributed significantly to position Infineon in major growth markets and he has successfully overseen the largest acquisition in the history of our company”, says Wolfgang Mayrhuber, Chair of the Supervisory Board of Infineon.

„I would have liked very much to continue the successful path with Arunjai Mittal. I know him for many years; I value him extraordinary from a professional as well as from a personal perspective. Infineon owes him very much,” says Dr. Reinhard Ploss, CEO of Infineon. “I highly appreciate the decision to enlarge the Management Board. I am looking forward to working together with the newly appointed colleagues in the Management Board and in the Divisions, who have greatly contributed on various key positions to the success of Infineon. Together we have focused Infineon strategically and at the same time have grown the business significantly. Infineon is a leader in many fields of our industry. People also realize how important semiconductors are for a livable future. Semiconductors are the crucial link between the digital and the real world.”

„It was no easy decision for me to leave Infineon. Though I am deeply connected with this company and its great people, I came to the conclusion that family is the most important thing in my life. Together with Infineon I mastered many exciting and sometimes very challenging times. Today Infineon is fundamentally sound and deeply rooted in important growth markets – regionally and technologically. I am thankful and proud, that I had the opportunity to make my contributions. I wish great success to Helmut Gassel, my successor in the Management Board”, says Arunjai Mittal.

The succession of both of the new members of the Management Board was decided today as well. Peter Schiefer, currently Head of Operations, will become Division President Automotive. Dr. Peter Wawer is currently member of the Management Board of the Power Management & Multimarket Divisionand will become DivisionPresident Industrial Power Control.

„Infineon has strong talents that we foster systematically. Both new colleagues have shown their dedication to drive Infineon’s business successfully. I am very glad about having the opportunity giving them further responsibilities,” says CEO Reinhard Ploss.

About Infineon

Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2015 fiscal year (ending September 30), the company reported sales of about Euro 5.8 billion with some 35,400 employees worldwide. 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).

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