News: Suppliers
30 October 2024
IQE announces departure of CEO Americo Lemos
Epiwafer and substrate maker IQE plc of Cardiff, Wales, UK says that chief executive officer Americo Lemos has left the company with immediate effect.
Mark Cubitt, who joined the IQE board earlier in October as chair-elect, will become executive chair. 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 chief financial officer role. Meier joined IQE in January from Intel Corp.
Phil Smith, who has been chair of IQE since 2019, announced earlier in October that he is stepping down from his role but remaining on the IQE board as a non-executive director.
IQE will begin the search for a permanent CEO with immediate effect.
“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,” says Smith. “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,” he adds. “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 optimize our asset base and ensure that resources are centered around IQE’s strategic areas of expertise.”
IQE appoints Mark Cubitt as non-executive director and chair-elect
