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Why8
Since the market is up, and they've just announced good results, it's a good ...
pay
it's often puzzling why companies that work hard on getting good biz units up ...
Infineon CFO quits over company strategy
Colin Holland
8/4/2010 9:31 AM EDT
LONDON -- Marco Schröter, Infineon Technologies AG's chief financial officer and labor director, has left the company's management board due to differences in opinion over future company policy.
Earlier this week, the company confirmed it was in discussions with other companies about the future of its wireless solutions business.
CEO Peter Bauer was appointed board chairman, and will assume CFO responsibilities until a successor is appointed, the company said.
Infineon also said Reinhard Ploss, a member of the management board, will assume the vacated post of labor director, with responsibility for human resources.
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Tunrayo
8/4/2010 1:52 PM EDT
It is nice to see senior executives putting their money where their mouth is.
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Warren
8/4/2010 7:37 PM EDT
eewiz, over in his comments two days ago on the news item "Infineon makes significant progress on wireless discussions" (link below) wonders why Infineon is selling their wireless business... and it looks likes maybe Marco Schroter is wondering the exact same thing.
http://www.eetimes.com/electronics-news/4205803/Infineon-admits-discussions-for-wireless-solutions-segment
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Mark Wehrmeister
8/4/2010 8:13 PM EDT
It kind of makes you wonder what is really going on within Infineon since they are on their 4th CFO now in only a few years if you count the new interim CFO. Ruediger Guenther was ousted at the end of July 2007 after only 4 months on the job. He was temporarily replaced by Peter Fischl who came out of retirement until they hired Marco Schröter who started only a little over two years ago. Let's just hope the disagreement stems only from the possible sale of the Wireless unit and not something much larger.
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pay
8/6/2010 3:13 AM EDT
it's often puzzling why companies that work hard on getting good biz units up and running end up selling the unit! there's always more than meets the eye in the board rooms of major companies, and i'm sure that's the case here too.
on the other hand what's even more interesting is that intel is notorious for buying up companies and running them into the ground.
i guess the plus side of this deal is that it'll give other players an entry into the lucrative mobile market in 2-3 years time.
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Why8
8/12/2010 10:33 PM EDT
Since the market is up, and they've just announced good results, it's a good time to sell now as the Wireless Businss Unit will fetch a higher price, rather than waiting for the next downturn.
That would leave Infineon a Euro 1.5 to 2 billion annual revenue company, focussing only on automotive, power and chip card chips. The implications of that would be interesting too...
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