REG - IQE PLC - IQE plc: Board change

IqeAnnouncement

19/06/2024 07:00

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RNS Number : 9562S  IQE PLC  19 June 2024

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
(https://www.globenewswire.com/Tracker?data=yZf7NKp1JKLALUCxlBuC8wkLnLAqoe5-kjjIlkMIDci9q9W0x_02bwZV-eorSbpLXZxy4zi3xHh-O4FM8nWjeg==)

 

 

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.

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