Osram CFO Ingo Bank has been appointed CFO of ams AG as of May 1, 2020. ams, a sensor and semiconductor specialist based in Premstätten, Austria, in 2019 successful launched a takeover offer for all the outstanding shares of OSRAM Licht AG. Osram and ams had agreed to possibly expand the number of ams board members through the course of the acquisition with the appointment of an Osram board member.
“I would like to thank Ingo Bank very much for his achievements over the past three and a half years. He has been a major asset for Osram, making a significant contribution to the realignment of the company from a lamp manufacturer to a high-tech lighting concern. His financial expertise and his knowledge of the lighting industry will be of great benefit in the continuing process of combining Osram and ams,” said Peter Bauer, Chairman of the Supervisory Board of Osram. At Osram, CEO Olaf Berlien will also head the finance department on a temporary basis after Bank’s departure.
“Our Business Combination Agreement provides for mixed teams from both companies as a prerequisite for successful integration. The appointment of Ingo Bank to the ams board is an important step for the future integration of the two companies and ensures continuity in management,” added Bauer.
The acquisition of Osram by ams remains subject to regulatory approvals. These approvals and subsequent completion are expected before the summer.
ABOUT OSRAM
OSRAM, based in Munich, is a leading global high-tech company with a history dating back more than 110 years. Primarily focused on semiconductor -based technologies, our products are used in highly diverse applications ranging from virtual reality to autonomous driving and from smartphones to smart and connected lighting solutions in buildings and cities. OSRAM uses the endless possibilities of light to improve the quality of life for individuals and communities. OSRAM’s innovations enable people all over the world not only to see better, but also to communicate, travel, work and live better. OSRAM has approximately 23,500 employees worldwide as of end of fiscal 2019 (September 30) and generated revenue of about 3.5 billion euros from continuing activities. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED 400; trading symbol: OSR). Additional information can be found at
www.osram.com.
Disclaimer
This document contains statements and information pertaining to our future business and financial performance and future developments that may constitute forward-looking statements – i.e. statements about processes that take place in the future, not in the past. These statements pertaining to the future can be identified by expressions such as "anticipate", "expect", "want", "intend", "plan", "believe", "aspire", "estimate", "will”, "predict" or words of similar meaning. Such statements are based on current expectations and certain assumptions of OSRAM‟s management. They are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond OSRAM’s control, affect OSRAM’s operations, performance, business strategy and results and could cause the actual results, performance or achievements of OSRAM to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or anticipated on the basis of historic trends. These factors include in particular, but are not limited to, the matters described in the chapter “Report on Risks and Opportunities” in the Annual Report of OSRAM Licht Group. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of OSRAM may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. OSRAM neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures they reference.