New elections for Infineon Supervisory Board – Dr. Wolfgang Eder and Hans-Ulrich Holdenried to leave Board at upcoming Annual General Meeting, Dr. Diess and Klaus Helmrich nominated as successors

Business & Financial Press

Dec 16, 2022

Munich, Germany – 16 December, 2022 – In preparation for the Annual General Meeting on 16 February 2023, the Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) Supervisory Board has proposed changes in its own composition to accompany the recent strategic decisions. In this context, Dr. Wolfgang Eder (70), Chairman of the Supervisory Board since 2019, and Hans-Ulrich Holdenried (71) have decided to support the renewal of the Supervisory Board and will resign from the Board at the next Annual General Meeting. Dr. Herbert Diess (64) and Klaus Helmrich (64) are the current candidates to succeed them. Subject to a confirming vote by the Annual General Meeting, Dr. Diess is expected to assume the role of Chairman of the Supervisory Board.

"Now is the right time for changes to the Supervisory Board," says Dr. Eder, Chairman of the Infineon Supervisory Board. "First of all Cypress, Infineon's largest-ever acquisition with its approximately 10 billion USD purchase price, has now been successfully integrated. Second, the new Management Board team, led by Jochen Hanebeck, is doing excellent work. In the context of the most successful fiscal year in company history, we have jointly made extensive strategic decisions and updated the Target Operating Model, plotting a long-term future course for Infineon. I am pleased to have been able to contribute to Infineon's success during such a decisive phase. In the interest of an age-independent realignment of the Supervisory Board with a longer-term impact, I will not seek reelection. Given the highly challenging environment in which Infineon is active, I am pleased to welcome Dr. Herbert Diess as the ideal candidate to become my successor. He has excellent knowledge of the company and of the industry landscape."

"Increasing performance and productivity in the semiconductor industry are driving the extremely rapid progress of new technologies in a variety of sectors. Here Infineon has a special position in the global picture. Generating environmentally friendly electrical energy from wind and sun, distributing it, converting it and using it are highly efficient and economically attractive thanks to power semiconductors from Infineon. Infineon's sensors and microcontrollers make sure our environment interacts on a continuously more connected and more intelligent basis, paving the way for example for future-oriented mobility. Together with the major trends towards decarbonization and digitalization, this situation presents Infineon with outstanding growth opportunities. The company increasingly plays a role as facilitator of the solutions for major, global tasks. Accompanying Infineon on this journey is a tremendous motivation for me," says Dr. Diess.

"Climate change is the challenge of our time. Decarbonization and digitalization are the key to mastering this challenge. In order to make sure that Infineon will continue its long-term contribution to these efforts, we recently made crucial decisions affecting the company's orientation together with the Supervisory Board. On behalf of the entire Management Board I would like to sincerely thank Dr. Wolfgang Eder and Hans-Ulrich Holdenried for their extraordinarily trusting and productive collaboration. At the same time we are pleased to see the candidacies of Dr. Herbert Diess and Klaus Helmrich as proven experts on the major topics that will determine the future of our business," says Infineon CEO Jochen Hanebeck.

Dr. Wolfgang Eder has been a member of the Infineon Supervisory Board since 2018 and its Chairman since 2019. He has also been Chairman of the Supervisory Board of voestalpine AG since 2022. He was with voestalpine AG from 1978 until 2019, and was Chairman of its Management Board from 2004 until 2019.

Hans-Ulrich Holdenried has been a member of the Infineon Supervisory Board since 2010. He has been an independent business consultant since 2009. Before that he was with Hewlett-Packard from 1976 until 2008, and was Managing Director of Hewlett-Packard Deutschland GmbH from 2004 until 2008.

Dr. Herbert Diess was CEO of Volkswagen AG from von 2018 until 2022. He began his career in 1989 at Robert Bosch GmbH. He then held executive positions at BMW AG (Board of Management member from 2007 until 2015) and in the VW Group. He was a member of the Infineon Supervisory Board from 2015 until 2020.

Klaus Helmrich is a member of both the ZF Friedrichshafen AG and Festo SE & Co.  KG Supervisory Boards and of the Foundation Council of the Friedhelm Loh Stiftung. Before that he held a number of various positions at Siemens AG over a period of 35 years ending in 2021; since 2011 he has been a member of the Siemens AG Managing Board and has been CEO Digital Industries since 2019.

About Infineon

Infineon Technologies AG is a global semiconductor leader in power systems and IoT. Infineon drives decarbonization and digitalization with its products and solutions. The company has around 56,200 employees worldwide and generated revenue of about €14.2 billion in the 2022 fiscal year (ending 30 September). Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the OTCQX International over-the-counter market (ticker symbol: IFNNY).

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