THIS ANNOUNCEMENT CONTAINS
INSIDE INFORMATION
IQE
plc
Cardiff, UK
19 June 2024
Board
change
IQE plc (AIM: IQE, "IQE" or
the "Group"), the leading global supplier
of compound semiconductor wafer products and advanced material
solutions, today announces that Dr Drew
Nelson OBE is standing down from the Board of IQE with immediate
effect. IQE's Board has retained Drew's services on a consultancy
basis for a further year to provide continued expertise and support
on industry-related issues.
Drew plans to focus on his interests
in continuing to build the South Wales Compound Semiconductor
cluster, the wider UK and international semiconductor and deep tech
industry, and his role as Chairman of the Advisory Board of the All
Party Parliamentary Group (APPG) on Semiconductors. IQE's recently
appointed Board members bring a wealth of industry experience to
the Board and give Drew the opportunity to pursue his interests now
that IQE is well supported in its next phase of
growth.
Drew has made an enormous
contribution to the development of IQE, which he co-founded in
1988. From April 1999 until October 2021 he served as Group Chief
Executive Officer, overseeing IQE's growth to become a global
leader in compound semiconductor wafer products and services. He
continued his engagement at IQE as President and a Non-Executive
Director, where he has provided invaluable support to Americo as he
transitioned into the CEO role.
Americo Lemos, Chief Executive Officer of IQE,
commented:
"On behalf of everyone at IQE, I'd like to
thank Drew for his contribution to this business over more than 35
years. His support since I was appointed as CEO was key to the
success of the transition, and his advice and guidance as a Board
member has been invaluable."
Phil Smith, Chairman of IQE, commented:
"Drew's contributions to IQE as a founder, CEO
and President cannot be understated. He has been instrumental to
the business's growth from start-up to a global innovator and
leader in the sector. Drew will continue to be a key figure in the
semiconductor industry in his work with the South Wales Compound
Semiconductor cluster, and other related activities, and we look
forward to working with him in this capacity."
This announcement is made in
accordance with Article 19 of the EU Market Abuse Regulation
596/2014 (as incorporated into UK domestic law by the European
Union (Withdrawal) Act 2018).
This announcement is issued on
behalf of the Company by Jutta Meier, CFO.
Contacts:
IQE
plc
+44 (0) 29 2083 9400
Americo Lemos
Jutta Meier
Amy Barlow
Peel
Hunt (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Ben Cryer
Kate Bannatyne
Adam Telling
Deutsche Numis (Joint Broker)
+44 (0) 20 7260 1000
Simon Willis
Hugo Rubinstein
Iqra Amin
Headland Consultancy (Financial PR)
+ 44 (0) 20
38054822
Andy Rivett-Carnac: +44 (0) 7968 997
365
Dan Mahoney: +44 (0)73 1136
9815
ABOUT IQE
http://iqep.com
IQE is the leading global supplier
of advanced compound semiconductor wafers and materials solutions
that enable a diverse range of applications across:
·
Smart Connected Devices
·
Communications Infrastructure
·
Automotive and Industrial
·
Aerospace and Security
As a scaled global epitaxy wafer
manufacturer, IQE is uniquely positioned in this market which has
high barriers to entry. IQE supplies the global market and is
enabling customers to innovate at chip and OEM level. By leveraging
the Group's intellectual property portfolio including know-how and
patents, it produces epitaxy wafers of superior quality, yield and
unit economics.
IQE is headquartered in Cardiff UK, with employees across eight
manufacturing locations in the UK, US and Taiwan, and is listed on
the AIM Stock Exchange in London.