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 successfully 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.
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