Infineon CEO to step down

Wolfgang Ziebart, who has run the company since 2004, is leaving "due to different opinions on the future strategic orientation of the company," Infineon says.

Wolfgang Ziebart Infineon

The CEO of German chipmaker Infineon Technologies will step down next week, the company said Monday.

Wolfgang Ziebart, who has run the company since 2004, is leaving on June 1 "due to different opinions on the future strategic orientation of the company," Infineon said in a statement.

Peter Bauer, an executive vice president and head of Infineon's automotive, industrial, and multiple-market business group, will assume Ziebart's position as spokesman of the company's management board.

Peter Bauer Infineon

Bauer, who was CEO of Siemens Microelectronics in the 1990s, joined Infineon when chip operations were spun off from Siemens in 1999.

Infineon, which has been losing money recently, also announced a program to try to improve margins.

The company, which is based in Neubiberg, Germany, has about 43,000 employees and is one of Europe's biggest chipmakers.

 

Join the discussion

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Galleries from CNET
Uber's tumultuous ups and downs in 2014 (pictures)
The best and worst quotes of 2014 (pictures)
A roomy range from LG (pictures)
This plain GE range has all of the essentials (pictures)
Sony's 'Interview' heard 'round the world (pictures)
Google Lunar XPrize: Testing Astrobotic's rover on the rocks (pictures)