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Infineon executives took kickbacks-German authorities 2 FRANKFURT
Published in Saudi Press Agency on 02 - 07 - 2005

chip DAX index .GDAXI, as investors worried that Europe's biggest chipmaker had lost the driving force behind its cutting-edge technology program.
"I'm very concerned," said Uche Orji, semiconductors analyst at JP Morgan. "We have very high regard for Mr. von Zitzewitz. This is someone who's been quite central in putting Infineon on the map in terms of technology."
Von Zitzewitz did not return calls asking for comment.
Infineon's Chief Executive Wolfgang Ziebart, who has temporarily taken over the running of the memory chip unit, welcomed von Zitzewitz's speedy departure.
"Managers have a special duty to act in an exemplary way," he said in a statement. "Consequences have to be borne if they do not meet this demand."
Infineon said that the company itself was not being investigated and that it was cooperating with the authorities.
Former interim CEO and current supervisory board chairman, Max Dietrich Kley, said the company had conducted an internal probe into accusations of wrongdoing but no proof was found that would confirm the suspicion.


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