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Ams CFO Michael Wachsler To Step Down; Confirms Q1 Outlook

Austrian sensor maker ams said that its Chief Financial Officer Michael Wachsler will step down from his position in the Management Board of the company effective 31 May 2020.

In addition, Ams' Supervisory Board plans to propose that Michael Wachsler be elected as member of the Supervisory Board in the Annual General Meeting 2022 following a two-year cooling-off period.

Meanwhile, ams has appointed Ingo Bank as its Chief Financial Officer, effective 1 May 2020. Ingo Bank's term will run for three years.

Ingo Bank will step down from the Management Board of Osram Licht AG, where he holds the CFO position, effective 30 April 2020.

Separately, ams said it assessed the Covid-19 situation in relation to the company' business which has not resulted in a change to expectations for the first quarter.

ams confirmed financial expectations for the first quarter 2020 with revenues of $480 million- $520 million and an expected adjusted operating (EBIT) margin of 19-21%.

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