ams CFO Michael Wachsler to step down with a view to standing for election to the Supervisory Board ...

(title cont'd) ...of ams in 2022; Ingo Bank joins Management Board of ams as CFO effective 1 May 2020 of ams in 2022

Premstaetten, Austria (6 March 2020) -- ams (SIX: AMS), a leading worldwide supplier of high performance sensor solutions, announces that Chief Financial Officer (CFO) Michael Wachsler will step down from his position in the Management Board of ams effective 31 May 2020.

As part of the Supervisory Board’s long-term succession planning the Supervisory Board of ams intends to propose that Michael Wachsler be elected as member of the Supervisory Board in the Annual General Meeting 2022 following a two-year cooling-off period.

Hans Jörg Kaltenbrunner, Chairman of the Supervisory Board, commented, “As a long-term member of the Management Board, Michael Wachsler played a key role well beyond his position as CFO in growing ams from a medium-sized company with a focus on Europe to a USD 2 billion globally successful and world leading provider of sensor solutions given his outstanding expertise and experience. The Supervisory Board would like to thank Michael Wachsler for 19 years of exceptional commitment. We are very pleased that Michael Wachsler will remain with ams in an advisory role for the coming two years and would then make his leadership qualities available to the Supervisory Board as well.”

Simultaneously, the Supervisory Board of ams is pleased to announce that Ingo Bank will join the Management Board of ams as Chief Financial Officer (CFO) effective 1 May 2020. To this end, Ingo Bank will step down from the Management Board of OSRAM Licht AG, where he holds the CFO position, effective 30 April 2020. Ingo Bank's term will run for three years.

An economics graduate, Ingo Bank has an extensive track record working in a range of technology markets. He joined OSRAM Licht AG in 2016 from Parexel, a U.S.-based listed provider of biopharmaceutical services, where he held the CFO position. Prior to that, he spent 18 years at Philips in various roles, including head of finance for a business unit of Philips Lighting and CFO of the healthcare division. Ingo Bank is a German citizen and, during his 25-year career, has lived in Europe, Asia and the United States.

Hans Jörg Kaltenbrunner added, “The Supervisory Board is very pleased that Ingo Bank will join ams as new CFO given his strong international experience and excellent financial expertise in technology markets. This seamless transition will allow ams to continue its successful development.”