Semiconductor manufacturer Infineon Technologies AG appointed Sven Schneider as CFO, effective May 1.

Schneider will replace Dominik Asam, who is due to join Airbus SE as CFO on April 1. Infineon CEO Reinhard Ploss is expected to manage the company's financial affairs during the transition.

Schneider, who serves as Linde AG's CFO and labor director, will be initially appointed for three years, according to the terms of his contract. Linde AG merged with Praxair Inc. to form Linde PLC.