Aixtron CFO Wolfgang Breme To Resign, Effective May 31

(RTTNews) - Aixtron SE (AIXG), a German provider of deposition equipment to the semiconductor industry, Monday announced that its Chief Financial Officer Wolfgang Breme leaves the firm as of May 31 by mutual agreement and will pursue new career opportunities outside the company.

The company said it will not appoint a new Chief Financial Officer. Martin Goetzeler, the chairman of the Executive Board, will take over the tasks previously performed by Breme.

The company further said that the service agreement of the current Chief Operating Officer, Bernd Schulte, will be renewed for a term of three years until March 31, 2018.

Aixtron noted that its Executive Board will consist of two members in the future.

Commenting on the management changes, Kim Schindelhauer, chairman of the Supervisory Board, said, "The Supervisory Board approved the termination of his service agreement with effect as of May 31, 2014 and regrets Mr. Breme's departure. Over the past nine years, Mr. Breme has contributed decisively to the successful development and financial stability with his high personal commitment."

In late April, Aixtron reported a narrower loss in its first quarter of fiscal 2014 with higher revenues. The firm also confirmed its full-year guidance for 2014, expecting revenues to be in line with those of last year. The company also expects a year-on-year improvement in earnings due to progress made in cost savings and restructuring, while it does not expect to be profitable on an EBIT basis.

On Frankfurt's Xetra, Aixtron shares gained 0.11 euros or 1.10 percent, and settled at 10.55 euros.