Herbert Diess to become chairman of chip maker Infineon
Ex-VW Group boss leaves one key industry position for a bigger oneIn 1999, the 175-year-old German company Siemens spun off its semiconductor arm into an entity called Infineon, based just outside Munich. Infineon has done nothing but grow since then. When it purchased U.S. chip maker Cypress Semiconductor in 2020, Infineon says it became one of the world's top 10 chip makers, having the automotive industry as its No. 1 client.
Diess found himself out of thejob in September of this year. HIs management style and clashes with the labor works council, plus the continued expense and missteps on an ambitious road to electrification, got to be too much for the board and controlling families to support. In the 'Landing on Your Feet' file, theOver the past three years, we have all learned how vital chip making is to almost everything.
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