Osram’s board approves spin-off of lamp business
After the supervisory board issued a preliminary audit engagement in April to make its lamp business independent, the go-ahead has now been given following talks between employee representatives and the management.
With the spin-off Osram wants to take account of the various dynamics and requirements in the lighting market. It says the lamp market is a mass market in which high quality and cost efficiency consistently provide the competitive edge. This makes it fundamentally different to the technology markets, which are characterized by innovations, customized solutions and sustained growth.
On these technology markets Osram plans in future to focus on optical semiconductors, automobile and special lighting along with luminaires, systems and solutions.
The supervisory board’s decision is now laying the cornerstone for Osram’s future strategic orientation towards growth, innovation and technological leadership, according to board chairman Olaf Berlien.
At present Osram still generates almost 40% of its turnover with the conventional lamps business. But as an independent unit the private customer business can act more freely on the market and more easily realize strategic options, such as partnerships, for example.
Jes Munk Hansen, until now CEO of the American region, will run the illuminents business in future. How the business is to be made independent (e.g. sale or flotation) has not yet been decided.
After its spin-off from Siemens Osram has been an independent business since 2013. Since then there has been restructuring and savings on a grand scale. After the loss of over 8,000 jobs Osram still numbers about 34,000 employees worldwide.