Struggling German chip maker Infineon says chief executive Wolfgang Ziebart is to resign. A statement from the company said this was due to 'different opinions on the future strategic orientation of the company'.
Ziebart will step down on June 1 and and will be replaced by management board member Peter Bauer.
Infineon also said that the management and supervisory boards had approved a restructuring programme aimed at cutting manufacturing costs and increasing efficiency. Further details will be announced in the coming weeks.
Infineon has been trying for some time to sell its heavily loss-making memory chip division Qimonda. There has also been speculation that the whole company may be taken over.
