Changes at the top - CFO leaves Osram

With the planned delisting of Osram Licht AG, which is expected to be implemented by the end of June, important tasks in the department of Osram's CFO will be omitted. Kathrin Dahnke's other responsibilities will be taken over by CEO Ingo Bank, who is also Chief Financial Officer at the parent company ams. "Kathrin Dahnke did an outstanding job during the transition period of the past year. Thanks to her the integration of Osram and ams can proceed so efficiently," says Supervisory Board Chairman Dr. Thomas Stockmeier in a press release. "Kathrin Dahnke kept both the interests of the shareholders and the overall good of the company in mind during the complex processes." Kathrin Dahnke was in charge of the preparatory measures for the domination and profit and loss transfer agreement by ams, which was approved by the shareholders with a large majority at the beginning of November. "It is also to the credit of Kathrin Dahnke and her teams that our company's finances were protected in the best possible way from the effects of the coronavirus crisis," adds Osram CEO Ingo Bank. The corresponding measures consisted of hundreds of operational and financial measures across all business units and generated an earnings effect of more than 50 million euros and a free cash flow lift of 132 million euros in the past fiscal year.