fineon CEO left for 'personal reasons,' execs say By Emily Church LONDON (CBS.MW) -- Executives from German memory chipmaker Infineon Technologies (IFX: news, chart, profile) (DE:623100: news, chart, profile) told reporters on a conference call from Munich that Chief Executive Ulrich Schumacher resigned Thursday at an extraordinary Supervisory Board meeting for "personal reasons." The shock resignation sent Infineon shares over 1 percent lower on the day in Frankfurt. Infineon intends to stay to its strategy of cost-cutting and outsourcing, Chief Financial Officer Peter Fischl said, AFX reported. He added that the company expects to remain profitable. The wireline business is still "struggling," he said. "In all other business areas we are well under way." Max Dietrich Kley was named interim CEO. Thursday, German union IG Metall said Schumacher's term with Infineon came to an "abrupt end" after he clashed with board members over his management style, according to a statement on the union's Web site.
Gruß MadX
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