IQE appointa Mark Cubitt as its new chair

8th Oct 2024 14:00

(Sharecast News) - Compound semiconductor wafer products and advanced material solutions IQE announced the appointment of Mark Cubitt to its board on Tuesday, as an independent non-executive director and chair-elect.

The AIM-traded firm said Cubitt would join the board immediately, and was set to assume the role of chair in the first half of 2025, following a transition period with current chair Phil Smith.

Smith, who had served on the board for nearly nine years, including five as chair, would step down once Cubitt took over.

The board said Cubitt would bring significant experience from his roles in AIM-listed technology businesses, currently serving as non-executive chairman of Concurrent Technologies and Beeks Financial Cloud Group.

His background included over seven years as CFO of Wolfson Microelectronics - a key player in semiconductor chip manufacturing for the digital consumer market.

"I am delighted to welcome Mark to the board of IQE," said chairman Phil Smith.

"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."

At 1337 BST, shares in IQE were down 3.02% at 19.12p

Reporting by Josh White for Sharecast.com.