IQE PLC on Wednesday said its Co-Founder and former chief executive Drew Nelson is stepping down.
IQE is a Cardiff, Wales-based supplier of compound semiconductor wafer products.
Nelson co-founded IQE in 1988. From April 1999 until October 2021 he served as chief executive.
As CEO, the company said he oversaw its ‘growth to become a global leader in compound semiconductor wafer products and services.’
For the past year, Nelson has acted provided the company on a consultancy basis.
Nelson plans to focus on his interests in continuing to build the South Wales Compound Semiconductor cluster, the wider UK and international semiconductor and deep tech industry, IQE added.
Chief Executive Americo Lemos said: ‘On behalf of everyone at IQE, I’d like to thank Drew for his contribution to this business over more than 35 years. His support since I was appointed as CEO was key to the success of the transition, and his advice and guidance as a board member has been invaluable.’
Shares in IQE were down 0.8% to 27.74 pence each in London on Wednesday morning.
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