IQE plc: Directorate change

Cardiff, UK. 22nd July 2019: IQE plc (AIM: IQE; "IQE" or the "Group"), the leading global supplier of advanced wafer products and materials solutions to the semiconductor industry, announces the planned retirement of Dr Howard Williams, Chief Operating Officer (COO) and the establishment of an Executive Management Board, as part of the continuing development of the Group’s organisational structure.

Dr Williams was a founding member of EPI in 1988 (which became IQE in 1999) and was appointed to the Board of IQE, as COO, in 2004. As part of his retirement plan, he will step down from the Board at the end of July. He will remain employed in a full-time capacity for the remainder of 2019. Thereafter, he will remain engaged with the Group on a part time basis as a consultant advisor.

As part of the continuing development of the Group and in order to maximise the opportunities ahead, an Executive Management Board (EMB) has been established, to work with the CEO and CFO. The EMB will initially comprise:

Dr Rodney Pelzel as Executive VP, Global Innovation (CTO)

Dr Pelzel joined IQE in 2000 as a Production Engineer and having held a variety of operational and technology roles, was appointed as VP of Technology in January 2015.

Keith Anderson as Executive VP, Global Operations (COO)

Mr Anderson has worked at IQE since August 2018 as VP of Global Operations, having joined the Group from Collins Aerospace (formerly B/E Aerospace). Mr Anderson will replace Dr Williams on the Boards of the Group’s Taiwanese subsidiary and CSC Limited, IQE’s joint venture with Cardiff University.

Dr Wayne Johnson as Executive VP, Global Business Development, Wireless and Emerging Products

Dr Johnson joined IQE in 2013 as part of the acquisition of Kopin where he was VP of Technology. He became the head of IQE’s Wireless Business Unit in January 2017 and took on responsibility for Emerging Products Group in April 2019.

Dr Mark Furlong as Executive VP , Global Business Development, Photonics and InfraRed

Dr Furlong joined IQE in 2000 as Head of Sales for the Asia region and he is currently the leader of IQE’s InfraRed Business Unit, which includes the substrate manufacturing activities.

Dr Drew Nelson, Chief Executive of IQE, said:

"Howard Williams was one of the founder members of IQE, and has been pivotal in the development of the business from start-up to becoming the global leader in Compound Semiconductor wafer production.

"His technical and project management skills have been outstanding, culminating in the design and build of our new Mega Foundry in Newport. Now that it is up and running in production, Howard has decided to execute his long-term retirement plan, stepping down from the Board at the end of the month, but maintaining a full time role for the next six months and thereafter providing support on a part time basis.

"He has built and mentored a very strong team, and executed a clear succession plan. On behalf of the IQE Board, I would like to thank him greatly for his massive contribution to the Group and wish him a long and happy retirement as he gradually reduces his day to day involvement.

"The establishment of an executive management board as part of the Group’s ongoing organisational development will provide clear focus, energy and accountability in driving the many high growth opportunities which lie ahead for the Group, with the upcoming deployment of 5G and IoT, and all the associated advanced technologies which will both drive and result from such deployment."

CONTACTS:

IQE plc

+44 (0) 29 2083 9400

Tim Pullen

Drew Nelson

Chris Meadows



Peel Hunt LLP (Nomad and Joint Broker)

+44 (0) 20 7418 8900

Edward Knight

Nick Prowting



Citigroup Global Markets Limited (Joint Broker)

+44 (0) 20 7986 4000

Christopher Wren

Peter Catterall

ABOUT IQE

IQE is the leading global supplier of advanced semiconductor wafers that enable a diverse range of applications. IQE uses advanced crystal growth technology (epitaxy) to manufacture and supply bespoke semiconductor wafers 'epi-wafers' to the major chip manufacturing companies, who then use these wafers to make the chips.

IQE's products are found in many leading-edge consumer, communication, computing and industrial applications, including a complete range of wafer products for the wireless industry, such as smartphones and wireless infrastructure, Wi-Fi, base stations, and satellite communications; optical communications, optical storage, printing, thermal imagers, leading-edge medical technologies, automotive and aerospace technologies, a variety of advanced silicon based systems and high efficiency concentrator photovoltaic (CPV) solar cells.

IQE is headquartered in Cardiff UK and operates manufacturing and R&D facilities worldwide.