OSRAM Licht’s supervisory board has designated Dr. Werner Brandt (60) as the successor of the outgoing member Dr. Joachim Faber (64). Faber resignation from office will be effective starting July 1, 2014.

“On behalf of the entire supervisory board, I would like to sincerely thank Mr. Faber for the outstanding and highly competent support of our work during the crucial early stages following our stock market debut,” said Peter Bauer, Chairman of the supervisory board. Following his court appointment, Brandt is also due to take over the chairmanship of the audit committee from Faber.

Brandt was Chief Financial Officer of global software maker SAP from 2001 until the end of June this year. Additionally, he served as labor director and was responsible for human resources since 2013. Previously, Brandt was CFO of Fresenius Medical Care, amongst others. He started his professional career in 1981 at PricewaterhouseCooper (PwC).

The personal decision by Faber follows regulatory changes in the European banking sector. Faber serves amongst others as a member of the board of directors at HSBC Holdings.