Infineon has found a successor for long-time CEO Reinhard Ploss.
Jochen Hanebeck, previously responsible for the operative business on the executive board, will take over the chief position in April 2022, as the company announced on Thursday after a corresponding decision by the supervisory board.
His contract runs until March 2027.
The 53-year-old manager has been with the company since 1994 and has been a member of the semiconductor manufacturer's board of directors since 2016.
The change in boss at Infineon was due because Ploss has reached the age limit and is retiring.
The qualified engineer has been running the company since 2012. His contract originally ran until the end of 2022.
It had previously been announced that the Infineon boss, who was born in 1955, will not be available for any further term.
In the end he had kept a low profile on questions about his successor.
When asked about his desired successor, he referred to his four “fantastic” colleagues on the board.
The semiconductor manufacturer is on a growth course and is preparing for a permanently higher chip demand in view of the increasing spread of electric cars and the growing importance of renewable energies.
Many applications are being electrified and digitized further, which is why it is to be expected that the strong chip demand will continue in practically all markets, said the Infineon boss last at the annual press conference.
The shortage of chips in the automotive, industrial, data center, Internet of Things and other areas will persist well into 2022.
For the current financial year 2021/22, Ploss predicted a further increase in sales to 12.7 billion euros and raised the forecast for the margin to 21 percent.
"We are more powerful than ever," emphasized the Infineon boss.