May 10, 2004 – Infineon Technologies AG has ended its search for a permanent CEO with its appointment of Wolfgang Ziebart, deputy chairman of German automotive supplier Continental AG, who will take the position no later than September 1, the company announced.

Ziebart was chosen due to “his experience with turnarounds, his knowledge of the industry, and his technical expertise,” said current CEO Max Dietrich Kley, who will retain the position of chairman. The appointment of Ziebart, who also has experience at BMW, could indicate Infineon’s desire to focus more on the automotive sector, which has become a big adopter of electronic devices.

The nomination of Ziebart ends weeks of speculation as to who would take over the position suddenly vacated by Ulrich Schumacher, with media speculation initially swirling around Juergen Thiel, head of Intel’s European operations.