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May 6, 2022

Helmut Gassel, member of the Management Board and Chief Marketing Officer (CMO) of Infineon Technologies AG, will resign from his position at his own request effective 31 May 2022 and will leave the company. The Infineon Supervisory Board agreed to this request with great regret. Andreas Urschitz, currently President of the Power & Sensor Systems (PSS) Division, has been appointed as his successor. Adam White, currently CMO of the PSS Division, is the designated President of the Division.

"We very much regret Dr. Gassel's decision, but of course we also respect it. He has made a significant contribution to Infineon's excellent positioning in key growth markets and in the fundamental trends of decarbonization and digitalization. Furthermore, he successfully steered the largest acquisition in the company's history, namely Cypress Semiconductor," said Dr. Wolfgang Eder, Chairman of Infineon's Supervisory Board. "We are very grateful to Dr. Gassel for his many valuable contributions to Infineon's profitable growth path during his 27 years with the company and especially since 2016 as a member of the Management Board. We welcome his very constructive support for the transition to Andreas Urschitz."

"As a longtime companion, Helmut Gassel has played a decisive role in Infineon's great success. As CMO, he has driven forward the digitalization of marketing and sales and thus the alignment with the future. I view with great respect the fact that he wants to make a personal change and therefore leave Infineon. I welcome the Supervisory Board's decision in favor of Andreas Urschitz as the future CMO. He has achieved great success as Division President and has demonstrated a keen sense of market developments and our customers' needs," said CEO Jochen Hanebeck.

"For me, change and new challenges have always been a strong motivation. After the many successful years at Infineon, I would therefore now like to turn to new tasks. Together we have achieved a lot with the company. It was particularly important to me to place our customers even more at the center of our thoughts and actions. I am delighted that Andreas Urschitz has been appointed as my successor, one who is passionately committed to customers’ success," said Helmut Gassel, Member of the Management Board and CMO.

"Together with our customers, Infineon employees are driving the decarbonization and digitalization of everyday life. I am very much looking forward to helping shape the path to a livable future now as part of the Management Board team," said Andreas Urschitz, President of the PSS Division and designated CMO of Infineon.

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Dr. Helmut Gassel has been a member of the Management Board of Infineon Technologies AG and Chief Marketing Officer (CMO) since 2016. His responsibilities include Marketing and Sales as well as Regions, Strategy Development, Mergers & Acquisitions (M&A) and Intellectual Property.

Previously, he headed the Industrial Power Control and Chip Card & Security Divisions as well as global marketing for automotive power semiconductors in Detroit, Michigan. He studied physics at the Ruhr University in Bochum and earned his doctorate in electrical engineering at the University of Duisburg. In 1995, he began his career at Infineon (until 1999 Siemens AG) as a project manager in development for power components.

Andreas Urschitz has been President of the Power & Sensor Systems (PSS) Division since 2012, which serves the market with a wide range of power semiconductor, radio frequency and sensor technologies. Prior to the role as head of the PSS Division, Mr. Urschitz held various management positions in production, marketing, development and sales. Mr. Urschitz began his career at Infineon (until 1999 Siemens AG) in Villach, Austria, after studying business economics and subsequently teaching at the Vienna University of Economics and Business Administration.

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https://www.infineon.com/cms/en/about-infineon/press/press-releases/2022/INFXX202205-074.html