Wolfgang Ziebart Appointed New CEO at Infineon

May 10, 2004 by Jeff Shepard

Infineon Technologies AG (Germany) announced that Wolfgang Ziebart has been appointed by the Supervisory Board as the new President and Chief Executive Officer. Ziebart will assume his new responsibilities at Infineon not later than September 1, 2004. Until Ziebart assumes his new duties, Max Dietrich Kley will continue to act as CEO. After he steps down as CEO, Kley will resume his currently resting function as Chairman of the Supervisory Board of Infineon.

"Thanks to his experience with turnarounds, his knowledge of the industry and his technical expertise, Ziebart displays all the outstanding qualifications required of a CEO at Infineon," said Max Dietrich Kley, current CEO at Infineon. "Together with him, the Management Board will work as a team to drive the strategic goals of Infineon, which will remain unchanged in its basic form, to motivate the employees and to further reinforce the company's profit orientation."