IQE
plc
THIS ANNOUNCEMENT CONTAINS
INSIDE INFORMATION
Cardiff, UK
29 October 2024
IQE announces departure of
Chief Executive Officer
IQE plc (AIM: IQE, "IQE" or
the "Group"), the leading global supplier
of compound semiconductor wafer products and advanced material
solutions to the global semiconductor
industry, today announces that Americo Lemos, Chief Executive
Officer, has left the Company with immediate effect.
Mark Cubitt, who joined the IQE
Board earlier this month as Chair-elect, will become the Executive
Chair of IQE. He is currently Non-Executive Chair at AIM-Listed
Beeks Group and Concurrent Technologies. Jutta Meier will take up
the position of IQE's interim CEO in addition to her CFO role. Ms
Meier joined IQE in January 2024 from Intel Corporation.
Phil Smith, who has been Chair of
IQE since 2019, will step down from his role but remain on the IQE
Board as a Non-Executive Director.
IQE will begin the search for a
permanent CEO with immediate effect.
Phil
Smith, Chairman of IQE, said:
"Whilst IQE continues to navigate the
semiconductor market recovery, we are confident that the Company's
renowned technical expertise is well aligned to long-term growth
market vectors. In Mark and Jutta we have two excellent individuals
with the necessary sector and leadership skills to capture that
growth in partnership with our customers, employees and broader
stakeholders. Their immediate priorities will include a focus on
executing on the near-term pipeline as well as cash generation
across the Group and on unlocking embedded value by pursuing the
IPO of our Taiwan business. They will examine other efforts to
optimise our asset base and ensure that resources are centred
around IQE's strategic areas of expertise."
Contacts:
IQE
plc
+44 (0) 29 2083 9400
Mark Cubitt
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
Chloe Francklin: +44 (0)78 3497
4624
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
manufacturing locations in the UK, US and Taiwan, and is listed on
the AIM Stock Exchange in London.
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, Interim CEO.
