Infineon triumphs over activists

Activist shareholders of Infineon Technologies yesterday failed at the semiconductor maker’s annual general meeting as Willi Berchtold was rejected as a member of the supervisory board and opponent Klaus Wucherer was elected instead. Wucherer, who was recommended by the board to become Infineon's new chairman, received 72.5 per cent of the votes. Wucherer, member of the body for a decade, was opposed by UK pension fund Hermes and other shareholders.