Giesecke & Devrient (G&D) has announced that CEO Karsten Ottenberg (pictured) is leaving, just a day after rival Oberthur Technologies said its own CEO, Xavier Drilhon, is also to depart.

G&D said Ottenberg is leaving of his own accord on September 30 this year to lead Bosch and Siemens Household Appliances after eight years at the helm. No successor has been announced.

Meanwhile, Drilhon, who has led Oberthur since its takeover by Advent International in 2011, is being replaced by Didier Lamouche. No reason was given for the change of leadership.

G&D recently announced a fall in profits and 400 redundancies in its mobile security unit, whose activities include SIM card production and the Trusted Service Manager business.

Before his appointment of Oberthur’s CEO, Lamouche was chief operating officer of ST Microelectronics, as well as president and CEO of ST-Ericsson (since December 2011), the joint venture between STMicro and Ericsson, which is in the process of being closed down.

The announcement by Oberthur of his departure complemented Drilhon on how the company has successfully made a transition to a new shareholding structure, and its positioning in markets with the potential for development.