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OSRAM Approves Lamps Business Carve-Out


06/25/2015 1:00PMSign-up to receive press releases.

OSRAM is making further progress regarding its realignment. In an extraordinary meeting, the supervisory board of OSRAM Licht AG approved the carve-out of the general lighting lamps business. As an independent entity, the business will be able to operate more freely on the market and realize strategic options, such as partnerships, more easily. Jes Munk Hansen, until now CEO of the Americas region, will lead the lamps business in the future. "Today's supervisory board decision lays the foundation for our strategic orientation toward growth, innovation and technology leadership," said Olaf Berlien, Chief Executive Officer of OSRAM Licht AG.

In April, the supervisory board issued a mandate to examine the carve-out of the lamps business. The weeks since then have seen an intensive dialog between employee representatives and management. The carve-out is a response to the different dynamics and requirements in the lighting market. The lamps market is a volume market in which consistently high quality and cost efficiency are crucial competitive factors. It differs fundamentally from the technology markets, which are characterized by innovation, tailor-made solutions and sustainable growth. Osram intends to focus on these technology markets in the future through its businesses with opto semiconductors, automotive and specialty lighting as well as luminaires, lighting systems and solutions.

Source: tED Magazine

 

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