ams announced 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. Simultaneously, the Supervisory Board of ams announced 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 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.