After the acquisition of Osram by ams, the two companies are accelerating their integration. Last Friday, Osram announced that its CFO Ingo Bank will become CFO of ams on May 1, 2020 following the latest appointment.

(Ingo Bank; image: Osram)

Austria-based sensor and semiconductor expert ams has successfully launched a takeover offer for all the outstanding shares of OSRAM in 2019. Together the two companies agreed to possibly expand the number of ams board members through the course of the acquisition with the appointment of an Osram board member.

At Osram, CEO Olaf Berlien will also head the finance department on a temporary basis after Bank’s departure. Peter Bauer, Chairman of the Supervisory Board of Osram, commented, “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.”

The acquisition of Osram by ams remains subject to regulatory approvals. These approvals and subsequent completion are expected before the summer.