Infineon CEO Joins German Business Leaders to Warn of Far Right

Agatha Cantrill and Michael Nienaber, Bloomberg News

Jochen Hanebeck Photographer: Krisztian Bocsi/Bloomberg , Bloomberg

(Bloomberg) -- Infineon Technologies AG Chief Executive Officer Jochen Hanebeck criticized anti-immigrant sentiment in Germany, joining a growing number of business leaders who have warned the country’s resurgent far-right movement could undermine Europe’s biggest economy.

The condemnations came after German news outlet Correctiv published a report last week about a meeting at which politicians from the far-right AfD and two members of the main opposition Christian Democrats discussed a “re-migration” scheme that echoed policies of the Nazis.

“Hate and exclusion should not have any place in our society,” the German chipmaker’s head posted on LinkedIn on Wednesday. “The idea of so-called ‘re-migration’ is inhumane.”

Hanebeck’s comments come as German business leaders, who traditionally shy away from politics, are becoming more outspoken about the rising nationalist tide. The AfD is second in national opinion polls and leads in several former East German states that are holding elections this year, including in Saxony, where Infineon is making significant investments.

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“As a CEO, I believe that an economic and social policy aimed at isolation is harmful to us all and a threat to prosperity,” Hanebeck said.

A spokesperson for the AfD declined to comment.

Infineon broke ground on a new €5 billion ($5.4 billion) semiconductor fab in Dresden last year, the largest investment in the company’s history. It is also participating in a joint venture to build a €10 billion fab in the Saxony state capital.

BDI Federation of German Industries President Siegfried Russwurm said at a press conference this week that AfD poses a growing threat to business.

“If a strong political party that questions all of this is gaining momentum in this country, then this is dangerous for the economy,” Russwurm said Tuesday.

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Dusseldorf Airport CEO Lars Redeligx has also warned against anti-immigrant sentiment in Germany, saying the airport wouldn’t be able to find workers if the AfD was to implement its anti-foreigner and xenophobic world views.

“This anti-constitutional mindset is poison for Germany as a business location,” Redeligx said in a LinkedIn post over the weekend.

--With assistance from Arne Delfs.