Reinhard Ploss replaces Peter Bauer as CEO of Infineon

LONDON, UK: CEO of Infineon Technologies AG, Peter Bauer has resigned from his position due to illness. He resigned from his post with effect from the end of current fiscal year. Bauer has been suffering from osteoporosis for several years and the company said that his condition has deteriorated.

He had informed the supervisory board about his decision to leave the company at the end of its financial year i.e. September 30, 2012.

Reinhard Ploss is now going to replace Bauer and he will take over as the CEO of Infineon with effect from October, 2012. Ploss is now serving as CTO, COO and labor director. He is also a member of Infineon's management.

"This is a very difficult decision for me. After so many eventful years together, Infineon and its employees are very dear to my heart. However, due to the uncertainties posed by my illness I can no longer dedicate the undivided attention required by the office of the CEO to lead Infineon into the future. I feel that I have a duty to my health, my family and the company to step down from my current position,'' said Bauer.

Bauer has suffered numerous fractures of the vertebrae over several years, reports Peter Clarke of EETimes. In 1985, Bauer began his career at Siemens Semiconductors. And from there he took senior positions in sales and marketing and be on the management board when Infineon went public in 2000.

In 2008, he became the CEO and during his tenure as the CEO, he executed a restructuring and refinancing program in response to the 2009 financial crisis and exited a number of market sectors, most notably wireless, and focused on energy efficiency, mobility and security.

Ploss was appointed to the Infineon management board in 2007.