Infineon boss heads for door
Scraps over strategy lead to ship-jump
The chief executive of Infineon, Dr Wolfgang Ziebart, has resigned from the company because of an inability to agree strategy with the company's board of directors.
Infineon's chairman Max Dietrich Kley thanked Ziebart for his work. Kley said: "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."
He said his position would be taken by Peter Bauer who will expand the "IFX 10-Plus" plan for the company. This plan is designed to help the company cut manufacturing costs, improve company efficiency and improve margins by optimising its portfolio.
Bauer has been on Infineon's board of directors since 1999.
Ziebart has overseen the spinning-off of the company's memory business. He was previously deputy chairman of tyre maker Continental.
The changes take effect from 1 June 2008. ®