MUNICH, Germany Apparently, in the power struggle at Infineon a decision is imminent. Media reports here already speculate CEO Wolfgang Ziebart is determined to quit the company as early as end of May. Nothing has been decided, Infineon officials insist.
Two days after the first press reports indicating at an imminent release of Ziebart, Friday a report of Boersenzeitung claims to have details. According to the paper, Ziebart is about to prepare his resignation ahead of the supervisory board meeting scheduled for May 31st. While Ziebart's contract is due to renewal in September 2009, he currently is negotiating the conditions for an early withdrawal in order to prevent a possible dismissal.
The report also states that already past year the supervisory board has revoked Ziebart's competence for strategic decisions. According to the report which as usual quotes anonymous sources, since then supervisory board member Johannes Feldmayer is responsible for strategic aspects. For Feldmayer however, a succession to Ziebart is not possible: The former Siemens top executive has been temporarily arrested in context with the Siemens bribery scandal; the investigations against him are not yet finished.
At the Infineon headquarters, officials refrain from commenting the discussion. "We do not know more than Wednesday [when first reports surfaced]", a company spokesperson explained. "There is nothing to comment."