IQE announces Board member Phil Smith stepping to Non-Executive Chairman

– UK, Cardiff –  IQE plc (LON:IQE), the leading global supplier of advanced wafer products and materials solutions to the semiconductor industry, confirms the appointment of Phil Smith to the role of Non-Executive Chairman of IQE plc as announced in October 2018.

Phil Smith, formerly Chairman of Cisco UK and Ireland, joined the IQE Board in December 2016 and takes over the role of Chairman from Dr Godfrey Ainsworth FCA who steps down as Executive Chairman.

Godfrey was appointed to the Board of EPI (prior to its merger with QED Inc. to form IQE plc) in 1997 and was appointed to the Board of IQE Plc in April 1999, assuming the role of Non-Executive Chairman in February 2002. He was appointed Executive Chairman and Interim CFO in April 2018 following the death in service of Mr Phillip Rasmussen.

Dr Drew Nelson, Chief Executive of IQE, said: “I warmly welcome Phil’s appointment as Non-Executive Chairman of IQE plc. Having worked closely with Phil since his appointment in 2016, I am confident that he will build on the excellent work of his predecessor to steer the business in a way that allows us to capitalise on our unique and strong market positioning.

“Godfrey’s relationship with IQE extends back to the company’s formative years and I would like to express my sincere thanks to him for his complete support of IQE over many years, and in particular, for stepping into the roles of Executive Chairman and Interim CFO, at a very difficult time, following the tragic death of Mr Rasmussen.

“As previously announced, Godfrey will step down from the IQE Board at or before the next AGM which is scheduled for 25th June 2019.”

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