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Tuesday, 27 May 2008 11:10

Infineon CEO quits

Written by Nick Farell

Image

Disagrees with future

 

Infineon Technologies' Chief Executive Wolfgang Ziebart has quit the company, claiming he disagrees with the direction the company is taking.

The semiconductor maker said that Ziebart's resignation would be effective June 1, but did not provide any more explainations for the sudden move. So far, no successor was named.

Infineon has had a troubled year, losing more than $2.2 billion in the first quarter of this year, mostly because of $760 million at its memory chip unit, Qimonda.

Shareholders had been looking to Ziebart to come up with a strategy out of their woes, and it is unclear if he had the backing of the Board over his plans.

Last modified on Tuesday, 27 May 2008 12:36

Nick Farell

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