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Electronics Production | May 27, 2008

Infineon CEO Wolfgang Ziebart resigns

With effect of June 1, 2008, the CEO and President of Infineon Technologies AG, Dr. Wolfgang Ziebart, resigns positions with the company due to different opinions on the future strategic orientation of the company.
Peter Bauer, Member of the Management Board will assume the position as Spokesman of the Management Board. Furthermore, Supervisory Board and Management Board have decided the “IFX Plus-10” program to improve the company’s results. In today’s meeting, the Supervisory Board has unanimously declared its vote of confidence for the Chairman Max Dietrich Kley.

During his term of office, Ziebart strategically re-positioned the company and amongst others carved-out the memory business to form a separate legal entity, Qimonda, which was listed at the NYSE in August 2006. Operative results of the core business improved considerably during this period. Last year, Infineon got back into the top ten semiconductor companies due to its superior growth.

Peter Bauer: „Infineon’s technology and market position is outstanding in various areas. If we continue to further focus our resources and execute our measures thoroughly and fast, we have good chances for a prosperous future. During the last years, the future direction of the company has been largely set. But we have to execute and – if necessary extend - our measures step by step and at high speed. I look forward to contribute to achieve our goals together with our highly qualified employees.”

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