Infineon CEO to step down over health troubles

AP News

5/13/2012 3:24:50 PM - AP News

German semiconductor maker Infineon says its chief executive, Peter Bauer, will step down at the end of September for health reasons.

Infineon Technologies AG said Sunday that Bauer has osteoporosis and has sustained several vertebral fractures over recent years. It said he decided to step down after his condition "significantly worsened" recently.

Bauer will step down when Infineon's fiscal year ends Sept. 30. Infineon said he will be succeeded by management board member Reinhard Ploss, who is responsible for production, development, technology and human resources.

The 51-year-old Bauer has been Infineon's CEO since 2008.