ams announces 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.