Infineon Says Two More Execs Are Gone
Two executives at German chipmaker Infineon (IFX) left the company Tuesday despite earlier management claims that last week's resignation of CEO Ulrich Schumacher didn't portend further upheaval.
The company announced the departure Tuesday of Matthias Poth, head of its corporate center, and Christoph Sieder, its head of communications. The resignations are with "mutual consent and immediate effect," the company said.
Infineon was recently up 23 cents, or 1.6%, to $14.23.
Infineon replaced Schumacher with Chairman Max Dietrich Kley on an interim basis, denying a statement by a company union that the executive was forced out because of a combative management style. The Associated Press quoted Chief Financial Officer Peter Fischl saying last week there is "no intention to change the strategic direction or competitive focus" of Infineon.
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