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 £200,000 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 years: |
None |
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
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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