Osram’s managing board is complete again. At an extraordinary meeting on Monday, the supervisory board of the lighting company appointed Ingo Bank as new CFO of OSRAM Licht AG. Ingo Bank, 48, joins Osram from Parexel, a U.S. biopharmaceutical service provider where he served as Chief Financial Officer. He will take up his post at Osram on September 1, 2016. "In Ingo Bank, we have found a financial expert with a proven track record and a strong international background. At the same time, he has extensive knowledge of technology markets, including the lighting industry," said Peter Bauer, chairman of the supervisory board of OSRAM Licht AG. Ingo Bank's term will run for three years.

Ingo Bank succeeds Klaus Patzak, who left the company on June 30. An economics graduate, Ingo Bank has previously worked in various technological markets and joined Parexel, a listed company that provides biopharmaceutical services, in 2013. Before this move, he spent 18 years at Philips, where he held various roles, including head of finance in a business unit of Philips Lighting and CFO of the healthcare division. Ingo Bank was born in Germany and, over the course of his career, has lived in Europe, Asia, and the U.S.