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IQE’s CEO departs amidst C-level shuffle

IQE’s CEO departs amidst C-level shuffle

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By Peter Clarke



Compound semiconductor wafer supplier IQE plc (Cardiff, Wales) has announced that CEO Americo Lemos has left the company with immediate effect.

Jutta Meier, who joined the company from Intel in January 2024 will take up the position of interim CEO while continuing as CFO.

IQE said it will begin the search for a permanent CEO immediately

At the same time Phil Smith, who has been chair of IQE since 2019, will step down from his role but remain on the IQE board as a non-executive director.

Mark Cubitt, who joined the board as non-executive director and chair-elect earlier in October, will become the executive chair of IQE. This step up has happened earlier than previously indicated. When Cubitt joined in the company it was said he was expected to take over as chair after a transitionary period in 1H25.

Outgoing chair Smith said: “Whilst IQE continues to navigate the semiconductor market recovery, we are confident that the company’s renowned technical expertise is well aligned to long-term growth market vectors. In Mark and Jutta we have two excellent individuals with the necessary sector and leadership skills to capture that growth in partnership with our customers, employees and broader stakeholders. Their immediate priorities will include a focus on executing on the near-term pipeline as well as cash generation across the Group and on unlocking embedded value by pursuing the IPO of our Taiwan business. They will examine other efforts to optimise our asset base and ensure that resources are centred around IQE’s strategic areas of expertise.”

Related links and articles:

www.iqep.com

News articles:

Losses persist as wafer maker IQE moves towards IPO

IQE to spin out Taiwan business

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