August 6, 2019 / 10:48 AM / 3 months ago

Infineon CEO Ploss gets two-year extension, new chairman elected

FRANKFURT, Aug 6 (Reuters) - German chipmaker Infineon Technologies said on Tuesday that CEO Reinhard Ploss had been given a two-year contract extension and would continue to lead the company until the end of 2022.

The extension for Ploss, who has been CEO since 2012, comes as he works to complete the agreed $10 billion takeover of U.S. Cypress Semiconductor, a deal that seeks to take the lead in automotive semiconductors.

Munich-based Infineon’s supervisory board has also elected Wolfgang Eder, the former CEO of Austria’s Voestalpine , as its chairman. Eder succeeds Eckart Suenner, who has announced his resignation having reached the age of 75.

Reporting by Douglas Busvine Editing by Thomas Seythal

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