Osram supervisory board approves lamps business carve-out
Osram is making further progress regarding its realignment. In an extraordinary meeting, the supervisory board of OSRAM Licht AG approved the carve-out of the general lighting lamps business. As an independent entity, the business will be able to operate more freely on the market and realize strategic options, such as partnerships, more easily. Jes Munk Hansen, until now CEO of the Americas region, will lead the lamps business in the future. "Today's supervisory board decision lays the foundation for our strategic orientation toward growth, innovation and technology leadership," said Olaf Berlien, Chief Executive Officer of OSRAM Licht AG.
In April, the supervisory board issued a mandate to examine the carve-out of the lamps business. The weeks since then have seen an intensive dialog between employee representatives and management. The carve-out is a response to the different dynamics and requirements in the lighting market. The lamps market is a volume market in which consistently high quality and cost efficiency are crucial competitive factors. It differs fundamentally from the technology markets, which are characterized by innovation, tailor-made solutions and sustainable growth. Osram intends to focus on these technology markets in the future through its businesses with opto semiconductors, automotive and specialty lighting as well as luminaires, lighting systems and solutions.
ABOUT OSRAM
OSRAM of Munich, Germany is one of the two leading light manufacturers in the world. The company's portfolio covers the entire value chain from components – including lamps, electronic control gear and opto semiconductors such as light-emitting diodes (LED) – as well as luminaires, light management systems and lighting solutions. OSRAM has around 34,000 employees worldwide and generated revenue of more than €5.1 billion in fiscal 2014 (ended September 30). The company's business activities have been focusing on light – and hence on quality of life – for over 100 years. The company was listed on the stock exchanges in Frankfurt and Munich on July 8, 2013 (ISIN: DE000LED4000; WKN: LED 400; Trading symbol: OSR).
Additional information can be found at www.osram-group.com
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