CFO Kathrin Dahnke leaves Osram Management Board by mutual agreement

2021/05/27

  • Financial department taken over by CEO Ingo Bank
  • Supervisory Board thanks Kathrin Dahnke for important contribution
The supervisory board of OSRAM Licht AG and CFO Kathrin Dahnke agreed to terminate her contract on June 30 by mutual agreement. With the planned delisting of OSRAM Licht AG, which is expected to be implemented by the end of June, important tasks in the department of Osram's Chief Financial Officer will be omitted. Kathrin Dahnke's other responsibilities will be taken over by CEO Ingo Bank, who is also Chief Financial Officer at the parent company ams. Supervisory Board Chairman Dr. Thomas Stockmeier thanked her for her important contribution. "Kathrin Dahnke did an outstanding job during the transition period of the past year. Thanks to her the integration of Osram and ams can proceed so efficiently," Stockmeier explained. "Kathrin Dahnke kept both the interests of the shareholders and the overall good of the company in mind during the complex processes."

Since taking office in April 2020, Kathrin Dahnke contributed to the advanced realignment of the industrial group from a traditional lighting manufacturer to an innovative high-tech champion. She was in charge of the preparatory measures for the domination and profit and loss transfer agreement by ams, which was approved by the shareholders with a large majority at the beginning of November.

"It is also to the credit of Kathrin Dahnke and her teams that our company's finances were protected in the best possible way from the effects of the coronavirus crisis," said Osram CEO Ingo Bank. The corresponding measures consisted of hundreds of operational and financial measures across all business units and generated an earnings effect of more than 50 million euros and a free cash flow lift of 132 million euros in the past fiscal year.

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 had approximately 21,000 employees worldwide as of end of fiscal 2020 (September 30) and generated revenue of around three 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

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