Draxlmaier Group has appointed Markus Scheitzach as its new chief financial officer, taking the post effective 1 March next year.

"We are delighted to have a renowned financial expert with extensive international experience join our company," said CEO and chairman, Fritz Draxlmaier.

The new CFO secured his business degree in Regensburg before joining Osram in 2001, where he has held different positions in the finance area for the last 15 years in Germany, Asia and the US among others.

Prior to joining Draxlmaier, Scheitzach was CFO of Osram's Digital Systems division.

This October, the Draxlmaier Group said it would open a research and development office in Galileo, the new centre on the campus of the TU, Munich.

Around 75 engineers, physicists, designers and technicians will work on topics of the future in the automobile industry, such as autonomous driving, big data and connectivity, electro-mobility and industry 4.0.

It will have slightly less than 1,000 square metres of office and laboratory space from the second half of 2017.