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IQE plc announced on 8 October 2024 the immediate appointment of Mark Cubitt, 61, as an independent Non-executive Director and Chair-elect. He is expected to assume the Chair role in H1 2025, when current Chair Phil Smith, who has served nearly nine years on the Board including five as Chair, will step down; Cubitt holds no shares in IQE plc.
| Date | 8 Oct 2024 |
| Time | 07:00:07 |
| Category | Board changes |
| ID | 2560H |
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")
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Full name: |
Mark Cubitt |
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Age: |
61 |
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Shares held in the Company: |
Nil |
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Current directorships: |
Lenimore Limited Concurrent Technologies Beeks Financial Cloud Group Plc |
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Historic directorships and partnerships in previous 5 years: |
Sonos Scotland Limited |
Contacts:
IQE plc
+44 (0) 29 2083 9400
Americo Lemos
Jutta Meier
Amy Barlow
Peel Hunt (Nomad and Joint Broker)
+44 (0) 20 7418 8900
Ben Cryer
Kate Bannatyne
Adam Telling
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 manufacturing locations in the UK, US and Taiwan, and is listed on the AIM Stock Exchange in London.