4 days Ago
The board has initiated a search for a new CEO with the assistance of a global executive search firm. Thomas Werner, Chairman of the Board, has been appointed as Executive Chairman while the board works to identify the company's next CEO. Werner will work closely with the senior leadership team and oversee Wolfspeed’s strategic priorities while the company searches for a permanent CEO.
Stacy Smith, another board member, will take on the role of Lead Independent Director. Reflecting on Lowe’s tenure, Werner praised his leadership since joining Wolfspeed in 2017. Thomas Werner, now serving as Wolfspeed's Executive Chairman, emphasised his focus on completing key priorities while the board conducts a search for the company's next CEO.
He outlined several key priorities, including executing milestones from the company’s CHIPS PMT agreement, and completing restructuring initiatives to lower costs and accelerate the company's path towards profitability – while driving consistent sales growth..
