OSRAM appoints Kathrin Dahnke as Chief Financial Officer

Recently, OSRAM appointed Kathrin Dahnke as a member of the Board of Directors. Starting April 16, Kathrin Dahnke will serve as OSRAM's Chief Financial Officer. Prior to this, Kathrin Dahnke was a member of the Board of Directors at Werhahn KG Group, headquartered in Neuss, North Rhine-Westphalia, Germany, which operates primarily in construction materials, consumer goods, and financial services sectors.

59-year-old Kathrin Dahnke has accumulated extensive financial management experience across different industries. She has held positions at Beiersdorf AG, Westdeutsche Landesbank, and Gildemeister AG, and served on the supervisory boards of Fraport AG, B. Braun SE, and Knorr-Bremse AG. She will bring rich cross-industry management experience to OSRAM.

Peter Bauer, Chairman of the Supervisory Board of OSRAM, stated: 'Kathrin Dahnke has extensive experience in managing listed companies during transformation periods, excels in crisis management, and is a versatile financial management expert widely recognized in the industry. We are delighted that she has joined OSRAM to help the company face challenges and achieve growth with her professional financial knowledge and talents.'

Kathrin Dahnke will take over the position of Chief Financial Officer from Ingo Bank. Ingo Bank will assume the role of CFO at ams AG starting May 1st. At the end of 2019, the acquisition proposal for ams was approved. The OSRAM Board of Management invited the ams management team to discuss how they could jointly become leaders in sensor solutions and optoelectronic technology based on the merger agreement. OSRAM's management believes that combining strengths will bring many opportunities, especially for the further development of the optoelectronic semiconductor business segment.

The global economy faces numerous short-term challenges, but the long-term trend of economic development remains unchanged. Since the beginning of this year, OSRAM's board-designed performance improvement plan has shown lasting impact. Thanks to improved efficiency and measures taken, the company has successfully achieved significant operational performance improvements in the first quarter of the current fiscal year. On one hand, OSRAM continues to provide advanced technologies and Solutions for traditional markets; on the other hand, OSRAM's transformation into a high-tech optoelectronics company is accelerating further, with continued efforts to become a leader in high-tech photonics.