Infineon appoints Hanebeck to replace Reinhard Ploss as CEO in April, Auto News, ET Auto

By Ludwig Burger

FRANKFURT: Infineon, the leading supplier of microchips to the auto industry, said its Chief Executive Reinhard Ploss would be replaced by Chief Operations Officer Jochen Hanebeck in April next year.

Hanebeck, a member of the executive board since 2016, was given a five-year CEO contract until March 2027, the German company added in a statement on Thursday.

“With Jochen Hanebeck, the Supervisory Board has made a very good choice for the future leadership of Infineon,” CEO Ploss said in the statement, which did not give a reason for his departure.

The changeover comes as Infineon foresees a persistent global semi-conductor shortage, which has translated into soaring demand for its chips used in everything from cars to home appliances.

Under Ploss, in charge since 2012, Infineon acquired International Rectifier and Cypress Semiconductor Corp. His current contract would have expired at the end of 2022.

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Based in Singapore, Eng will oversee close to 6000 employees across 18 markets while providing the necessary resources to ensure operational excellence and drive the overall HR strategy within the Asia Pacific region, the company said.

Infineon, which gets about 40% of sales from the automotive sector, also forecast revenue of 3 billion euros for its coming first quarter, exceeding the 2.97 billion euros expected in a poll of 19 analysts by Vara Research.