Infineon CEO Wolfgang Ziebart to resign at month’s end

Following on repeated quarters of red-ink stained financial reports tied to its Qimonda memory unit, Infineon (NYSE: IFX) has announced that its CEO will be stepping down effective June 1. Infineon chief Wolfgang Ziebart will reportedly be leaving the company before his contract expires in September 2009, and will be succeeded by Peter Bauer.

There is reportedly some bad blood between the CEO and Max Dietrich Kley, head of Infineon’s supervisory board. And, there are reports that Infineon is being eyed by an investment firm looking to combine the company with NXP. How that plays in to the CEO’s departure is not clear.

So long, Wolfgang. It’s been a good run.

[Via: AFP]