IQE PLC IQE plc: Chief Financial Officer appointment (7500Z)

TIDMIQE

RNS Number : 7500Z

IQE PLC

16 January 2024

IQE plc

Cardiff, UK

16 January 2024

Appointment of Jutta Meier as Chief Financial Officer

IQE plc (AIM: IQE, "IQE" or the "Group"), the leading global supplier of compound semiconductor wafer products and advanced material solutions , is pleased to announce the appointment of Jutta Meier to the Board as Chief Financial Officer effective from 22 January 2024.

Jutta is an experienced finance executive who has held senior positions at global semiconductor companies for over 25 years. She joins IQE from Intel Corporation, where she served as a Senior Finance Director at Intel Foundry Services, supporting Intel's Foundry business transformation. Prior to joining Intel, Jutta served as Vice President of Finance at GlobalFoundries Inc, a global leader in semiconductor manufacturing and she also held various positions at Advanced Micro Devices Inc. (AMD), a multinational semiconductor company.

The decision to appoint Jutta follows an extensive global search process led by the Board and CEO. The Board would like to thank Neil Rummings for assuming the role of interim CFO during the search process.

Americo Lemos, Chief Executive Officer of IQE, commented:

"I am delighted to welcome Jutta as IQE's CFO. Her skills and experience gained within global semiconductor manufacturing will be an important asset to IQE, enabling her to drive value creation and improve margins and profitability. Jutta's contributions will be vital to driving IQE's growth and the continued implementation of our strategic plan."

Jutta Meier, Chief Financial Officer of IQE, commented:

"I am thrilled to be joining IQE as Chief Financial Officer. IQE is at the forefront of the global compound semiconductor industry and I am very excited by the market opportunities and the growth potential of the business. I look forward to working with Americo and the team to deliver our ambitious goals."

INFORMATION REQUIRED UNDER RULE 17 AND SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 
 Full name:                     Jutta Meier 
 Previous names: 
                                  Jutta Fritsch 
                                  Jutta Fritsch-Rodgers 
 Age:                           57 
 Shares held in the Company:    Ms Meier currently holds no 
                                 shares in IQE. She will receive 
                                 a grant of share options with 
                                 a value of GBP200,000 as part 
                                 of a New Starter Award ("the 
                                 Award"). The number of shares 
                                 subject to the option is to 
                                 be calculated based on the 
                                 Company's volume weighted average 
                                 share price on the three trading 
                                 days preceding 22 January 2024. 
                                 The Award will vest in two 
                                 equal tranches over two years 
                                 (50% in year one and 50% in 
                                 year two). 
 Current directorships:         None 
 Historic directorships and 
  partnerships in previous 5      None 
  years:

Contacts:

IQE plc

+44 (0) 29 2083 9400

Americo Lemos

Neil Rummings

Amy Barlow

Peel Hunt (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Paul Gillam

Richard Chambers

Kate Bannatyne

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 eight manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.

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