By Joshua Kirby

Infineon Technologies AG said Friday that its supervisory-board chairman will step down next year, to be replaced by former Volkswagen AG boss Herbert Diess.

Current Chairman Wolfgang Eder will resign from the board at the German chip maker's annual general meeting slated for February, as will board member Hans-Ulrich Holdenried. Mr. Diess--who previously served on Infineon's supervisory board until 2020--and Klaus Helmrich will be proposed as their replacements, Infineon said, with the former expected to take over as chairman.

Mr. Diess was chief executive of auto giant Volkswagen until this year, when he was replaced. Mr. Helmrich is a member of the management board of conglomerate Siemens AG and head of its digital-industries business.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

December 16, 2022 03:08 ET (08:08 GMT)

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