News: Microelectronics
16 October 2024
Wolfspeed nominates Thomas Seifert and Woody Young to board
Wolfspeed Inc of Durham, NC, USA — which makes silicon carbide (SiC) materials and power semiconductor devices — says that Thomas Seifert and Woody Young have been nominated to its board of directors. Their nominations will be considered at the 2024 Annual Meeting of Shareholders, scheduled for 5 December.
Seifert has served as chief financial officer of internet security company Cloudflare Inc since June 2017. Previously, he held executive leadership positions at technology and semiconductor companies, including CFO of Symantec Corp, Brightstar Corp and Advanced Micro Devices Inc. Seifert is currently a member of the board of directors of ultra-high-performance analytics software company First Derivatives plc.
Young most recently served as president and a member of the board of directors of flash memory semiconductor company Solidigm from October 2022 until August 2023. He has over 30 years of experience as an investment banker and is the former chairman of mergers & acquisitions at Perella Weinberg Partners LP. He previously served as co-head of global telecommunications, media & technology at Lazard and in similar roles at Merrill Lynch and Lehman Brothers. Young is currently a member of the board of directors of fiber internet provider Frontier Communications Parent Inc.
“With yesterday’s CHIPS Act capital structure update, I believe the company successfully took a key step towards funding the execution of its business plan,” says Thomas Werner, chair of Wolfspeed’s board. “Thomas and Woody will be valuable additions to the Board as we focus on executing that plan, driving operational execution improvement, and continuing our previously disclosed efforts to explore ways to enhance shareholder value and unlock Wolfspeed’s strategic value.”
Clyde R. Hosein and John B. Replogle, who have served on the board since 2005 and 2014 respectively, are not standing for re-election and will retire from the board after expiration of their terms at the 2024 Annual Meeting.
Wolfspeed announces $750m in proposed funding from US CHIPS Act plus $750m from investment group
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