On September 24, 2024, AT&S (VIE: ATS), a global leader in high-end IC substrates and printed circuit boards, announced that CEO Andreas Gerstenmayer will step down from the Executive Board effective September 30, 2024. This decision, which follows an agreement with the company’s Nomination Committee, came as a surprise, as Gerstenmayer's contract was initially set to run until 2026.
According to a company spokesperson, the resignation was "completely unexpected." No further details about the reasons for his departure or his successor were provided. Hannes Androsch, whose foundation holds an 18% stake in AT&S, described Gerstenmayer's resignation as a "personal decision."
However, media reports, including one from Die Presse earlier in September, had suggested an internal power struggle between Gerstenmayer and Androsch. The conflict became public in recent months with multiple extraordinary supervisory board meetings. Androsch allegedly sought more influence over the company’s management and pushed for a leadership change.
Since becoming CEO in 2010, Gerstenmayer played a pivotal role in transforming AT&S into a global technology leader. Under his leadership, the company significantly expanded its presence in Asia, opening new production facilities in China, India, and Malaysia. This international focus has strengthened AT&S’s position in key sectors such as high-performance computing, automotive, and medical technology.
AT&S operates globally with production sites in Austria, India, China, and Korea. The company is also expanding with a new high-end IC substrate facility in Kulim, Malaysia, and a European competence center in Leoben. The company employs around 14,000 people worldwide.
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