May 15, 2012 -- Infineon Technologies AG (FSE:IFX, OTCQX:IFNNY) CEO Peter Bauer will resign his post at the end of the current fiscal year (September 30, 2012) due to worsening osteoporosis.
“This is a very difficult decision for me,” said Peter Bauer. “After so many eventful years together, Infineon and its employees are very dear to my heart. However, due to the uncertainties posed by my illness I can no longer dedicate the undivided attention required by the office of the CEO to lead Infineon into the future. I feel that I have a duty to my health, my family and the company to step down from my current position. I thank all our employees, business partners, customers, investors, my fellow Board members and the members of the Supervisory Board for their unrelenting confidence and support, especially during difficult times, and hope for understanding regarding my decision.”
Wolfgang Mayrhuber, Chairman of Infineon’s Supervisory Board commented, “The Supervisory Board deeply regrets that Peter Bauer resigns his post as CEO of Infineon Technologies AG due to health reasons, but has full understanding and great respect for the very personal reasons behind the decision. Peter Bauer has a very authentic, employee-oriented management style. He distinguished himself through his intense commitment, depth of knowledge, clear objectives and focus on performance, as well as his perseverance and dedication to teamwork. These characteristics earned him great recognition among our customers, investors and employees . The Supervisory Board is grateful for Peter Bauer’s outstanding contribution to the company. With the support of his management, he prepared the company for the future. Infineon is stable and profitable today, with attractive products, state of the art manufacturing and competent employees led by an excellent management team."
The Supervisory Board of Infineon Technologies AG named Dr. Reinhard Ploss as Peter Bauer’s successor to the post of CEO. Dr. Ploss is a member of the Infineon Management Board and is currently responsible for production, development, technology and human resources.
“The selection of my long-time colleague, Dr. Reinhard Ploss, as successor, makes me very happy,” stated Bauer. “Reinhard Ploss is a highly experienced manager with excellent knowledge of our industry. He enjoys high acceptance within the company and among our international business partners. Infineon is very well positioned for the future. We address the right trends with our focus on Energy Efficiency, Mobility and Security and we have a proven management with a track record of success.”
“The Supervisory board is pleased to appoint Dr. Reinhard Ploss as CEO of Infineon Technologies AG,” said Mayrhuber. “He brings with him both extensive technical expertise and a broad business background. Dr. Ploss currently serves on the Infineon management board with responsibilities as Chief Technical Officer, Chief Operations Officer and Labor Director. During his term, he successfully improved Infineon’s competitiveness in manufacturing and innovation. In our dynamic and highly competitive business, the balance between change and stability is a critical success factor. Dr. Ploss masters this balance. His appointment preserves continuity. The Supervisory Board firmly believes that he, together with his fellow board members Dominik Asam and Arunjai Mittal, will carry on with Infineon’s successful strategy.”
Bauer began his career in 1985 at Siemens Semiconductors, which was eventually carved-out into Infineon Technologies AG. He was already part of the Management Board when Infineon went public in 2000 and, in 2008, became the company’s CEO. Under his leadership, Infineon executed an extremely successful restructuring and refinancing program in response to the 2009 financial crisis and decisively focused its strategy on profitable growth in the areas of Energy Efficiency, Mobility and Security.
Dr. Reinhard Ploss is with the company for over 25 years and presides over profound knowledge of the complex semiconductor industry. After numerous leadership roles in development and manufacturing, he assumed responsibility for Infineon’s Automotive and Industrial units, encompassing products underlying the vast majority of Infineon’s sales today. Dr. Reinhard Ploss was appointed to the Infineon Management Board in 2007. In this role, he has contributed significantly to the company’s innovation and earnings power. He also introduced a pioneering manufacturing strategy, which will serve as the basis for further profitable growth.
Infineon Technologies AG offers semiconductor and system solutions addressing three central challenges to modern society: energy efficiency, mobility, and security. 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.