Poth and Sieder Leave Infineon Technologies

March 29, 2004 by Jeff Shepard

Infineon Technologies AG (Germany) reported that two more executives are following former President and CEO Ulrich Schumacher's lead and have resigned. The company said that there will be a change of direction in its corporate center and its communications department. With that, the head of the corporate center, Matthias Poth, and the head of communications, Christoph Sieder, have left the company. The resignations take effect immediately.

In a statement, Infineon said that the executives did so "with their mutual consent," implying that, like Schumacher, they had been asked to leave. The company has quietly been at odds with itself for sometime. Workers union troubles were spurred when Infineon announced plans to move its headquarters from Germany to either Singapore, Switzerland or the United States. Infineon also decided to outsource internal administration operations in October 2003 as part of its restructuring plan.