January 12, 2018 / 9:07 AM / 5 months ago

UPDATE 1-Infineon to propose Voestalpine CEO as chairman in medium term

(Adds comment from Eder)

FRANKFURT, Jan 12 (Reuters) - German chipmaker Infineon Technologies said its supervisory board would propose appointing Voestalpine Chief Executive Wolfgang Eder to the board with an eye to having him take over the chairmanship eventually.

“The Supervisory Board considers Dr. Eder perfectly suited to take on the chairmanship of the supervisory board in the medium term,” it said in a statement on Friday.

Current supervisory board Chairman Wolfgang Mayrhuber, 70, will resign, effective as of the company’s annual shareholders’ meeting on Feb. 22.

Supervisory board member Eckart Suenner will succeed Mayrhuber until Eder becomes chairman, Infineon said.

Eder will present his candidacy at the shareholders’ meeting, a Voestalpine spokesman said.

“The time investment required of a member of Infineon’s supervisory board is limited and therefore should be viewed as completely independent of the position as Chief Executive of Voestalpine,” Eder said in an emailed statement. (Reporting by Maria Sheahan, additional reporting by Shadia Nasralla in Vienna; editing by Christoph Steitz and Jason Neely)

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