IQE plc: Appointment of NED and Chair-elect

IQE PLC

08 October 2024

 

IQE plc

Cardiff, UK

8 October 2024

Appointment of Non-executive Director and Chair-elect

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 Mark Cubitt to IQE's Board of Directors as an independent Non-executive Director and Chair-elect. Mark will join the Board as a Non-executive Director with immediate effect and is expected to take over as Chair in H1 2025 following a period of transition with the current Chair, Phil Smith. Phil will step down from the Board upon Mark assuming the chairmanship having served on the Board nearly nine years, including five years as Chair.

Mark has significant experience serving in senior Non-executive and Chair roles across AIM-listed technology businesses. He is currently Non-executive Chairman of Concurrent Technologies plc, a manufacturer of embedded processor solutions, and Beeks Financial Cloud Group plc, a provider of cloud computing services for capital markets infrastructure.  Mark has also held a range of senior financial roles within the technology manufacturing sector, including over seven years as CFO of Wolfson Microelectronics plc, a global leader in the supply of semiconductor chips for the digital consumer market.

Phil Smith, Chairman of IQE, commented:

"I am delighted to welcome Mark to the Board of IQE. Mark brings a wealth of expertise to the Company, with a deep knowledge of the technology sector and significant Board-level experience working with AIM-listed businesses. I look forward to working with Mark and I am confident that IQE will be in good hands when he assumes the role as Chair."

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

Full name:	Mark Cubitt
Age:	61
Shares held in the Company:	Nil
Current directorships:	Lenimore Limited Concurrent Technologies Beeks Financial Cloud Group Plc
Historic directorships and partnerships in previous 5 years:	Sonos Scotland Limited

Contacts:

IQE plc

[phone]

Americo Lemos

Jutta Meier

Amy Barlow

Peel Hunt (Nomad and Joint Broker)

[phone]

Ben Cryer

Kate Bannatyne

Adam Telling

Deutsche Numis (Joint Broker)

[phone]

Simon Willis

Hugo Rubinstein

Iqra Amin

Headland Consultancy (Financial PR)
+ 44 (0) 20 38054822

Andy Rivett-Carnac: [phone]

Chloe Francklin: [phone]

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.

 

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