The Channel logo

News

By | John Oates 18th July 2005 09:21

Infineon memory boss quits

Police raid, corruption allegations

The boss of Infineon's memory business has quit the company and the board while police investigate corruption charges.

Andreas von Zitzewitz offered his resignation on Saturday following police raids on Infineon's offices on Friday.

Von Zitzewitz faces possible charges relating to "payments made for contracts regarding motorsport sponsoring". Infineon is not under investigation and is cooperating fully with police.

A statement on Infineon's website reads: "Dr von Zitzewit declared his resignation, to spare the company the burden of the ongoing investigation and to be able to fully concentrate on the expected court case."

The news comes at a bad time for Infineon which was planning an Initial Public Offering of its memory unit later this year. Without a boss in place this will be difficult to keep on track.

Infineon CEO Dr Wolfgang Ziebart will run the memory business until a replacement is found.

Infineon's motorsport ventures include a partnership with the Sonoma race track, or Infineon Raceway, just north of San Francisco. ®

Related stories

IBM to Apple: eat these chips
Infineon makes a loss
Infineon to sample DDR 3 'in 2006'

alert Send corrections

Opinion

Woman cuddles 'sly-looking' Fennec fox. Photo by Shutterstock
Cartoon of employee asking wky boss makes hium wear suspenders (while pincer through open trapdoor remains poised above his head) illustration by Cartoon resource for Shutterstock

Frank Jennings

It's not like my boss painstakingly nurtured the contacts, right?

Features

Girl and computer, photo via Shutterstock
Middle-class terror of engineering also part of problem
Nerd fail photo via Shutterstock
Shouting match
Single market vs. rest of the world