Date Announced: 10 Dec 2020
Munich, Germany -- OSRAM Licht AG has announced it is making changes to its Management Board to align with its new management structure as part of the ams Group. The Supervisory Board will therefore enter discussions with CEO Olaf Berlien about the termination of his contract with effect on February 28, 2021.
Since taking office in January 2015, Olaf Berlien has consistently driven the company’s transformation from a traditional light bulb manufacturer to an innovative high-tech champion. Most recently, he has steered Osram through a competitive bidding process, which culminated in a Domination and Profit and Loss Transfer Agreement with ams at the start of November. This agreement was accepted by a large majority of the shareholders.
Since Osram went public, the value of the company has more than doubled to 4.9 billion euros at its most recent valuation. “We would like to thank Olaf Berlien for the entrepreneurial strength with which he has driven change over the past six years and more,” said Peter Bauer, Chairman of the Supervisory Board.
“By combining Osram and ams we are creating the world's leading supplier of optical solutions. Olaf Berlien has broken new ground with Osram and has given the company a highly promising future in combination with ams. We thank him for his valuable and focused support in preparing for the upcoming integration process,” said Alexander Everke, CEO of majority shareholder ams."
The new situation is also being reflected in the Supervisory Board: Peter Bauer will resign as chairman and as a member of the Supervisory Board in mid-December 2020. He has used his experience to carefully guide and support OSRAM through turbulent times since the IPO in 2013.
The Osram Supervisory Board plans to appoint Ingo Bank as the new CEO with effect from March 1, 2021. Ingo Bank, the current CFO of ams and former CFO of Osram, will take on a dual role. “I am delighted that Ingo Bank, someone who knows Osram from the inside, is taking over at the top,” said Olaf Berlien.
The new Chairman of the Supervisory Board will be Thomas Stockmeier, who is a current member of the Supervisory Board of Osram and also a member of the Management Board of ams. Christine Bortenlänger will resign as a member of the Supervisory Board at the next Annual General Meeting in February 2021. Christin Eisenschmid, Managing Director of Intel Germany, and Ulrich Huewels, ams Division General Manager, will be proposed at the Annual General Meeting as successors to Christine Bortenlänger and Peter Bauer.
Investor Relations Team
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