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CEO of Infineon Technologies resigns

Infineon Technologies AG said Monday that its chief executive, Wolfgang Ziebart, will resign at the end of the month over what it said was a difference in strategy for the money-losing semiconductor maker.

In a brief statement issued after the German stock exchange closed for the day, the company said that Ziebart's resignation would be effective June 1. While it did not name a successor, it said that Peter Bauer, a member of the company's executive board, would "assume the position as spokesman of the management board." The company also said that its supervisory board, the U.S. equivalent to a board of directors, had declared "its vote of confidence for the chairman Max Dietrich Kley."

Associated Press

Posted by | Mon, May 26, 2008 - 01:58 PM