IQE PLC Iqe Plc: Directorate Change

 
TIDMIQE 
 
   IQE PLC 
 
   IQE plc: Appointment of Chief Financial Officer 
 
   Cardiff, UK. 15 October 2018:  IQE plc (AIM: the leading global supplier 
of advanced wafer products and material solutions to the semiconductor 
industry, is pleased to announce that it has appointed Mr Tim Pullen as 
Chief Financial Officer to the board of the Group (the "Board"). Mr 
Pullen is expected to join the Board, following completion of his 
current notice period, during early 2019. 
 
   Mr Pullen is currently Chief Financial Officer of ARM Limited, a global 
semiconductor and software design company owned by Softbank Group. 
During his time at the company, Mr Pullen has been focused on executing 
the investment strategy and scaling the company's finance and business 
capabilities. 
 
   Prior to this, Mr Pullen was Finance Director at O2 / Telefonica UK, 
where he held a variety of senior financial positions including 
responsibility for Technology Operations, B2B and Digital segments and 
Finance Operations. In connection with his time at O2, Mr. Pullen also 
held roles as a Non-Executive Director of Tesco Mobile, O2's joint 
venture with Tesco Mobile and was a Director of Cornerstone 
Telecommunications Infrastructure Limited, O2's network sharing joint 
venture with Vodafone. Before his time at O2, Mr. Pullen held various 
senior finance roles at Serco Group plc, a leading British provider of 
outsourcing services, including the BPO Division in UK & Europe, the 
Global Technology business and in Business Transformation. Mr Pullen is 
a Chartered Accountant and qualified with Ernst & Young. 
 
   Dr Godfrey Ainsworth FCA, Executive Chairman and interim CFO, has agreed 
to remain in post to oversee the handover to Mr Pullen.  As previously 
announced, Dr Ainsworth will retire from the Board on or before the date 
of the 2019 AGM.  Mr Phil Smith, former Chairman of Cisco who joined the 
board in December 2016, will become Non-executive Chairman on 31 March 
2019. 
 
   Dr. Drew Nelson, IQE Chief Executive Officer, said: 
 
   "It is with great pleasure that I welcome Tim to the Board of IQE. Tim 
has built a successful career leading the finance functions of some of 
the UK's leading technology and outsourcing companies. I believe, with 
Tim's very relevant sector industry experience, leadership and overall 
vision for the finance function at IQE, he will continue to build upon 
the exceptional work achieved by the late Phillip Rasmussen, his 
predecessor. I would also like to take this opportunity to thank Godfrey 
for his outstanding support in his role as interim CFO." 
 
   Sir David Grant, Chair of Remuneration and Chair of Nominations 
Committee, said: 
 
   "I am delighted that, following an extensive search and selection 
process, we have appointed an excellent CFO in Tim Pullen, whose proven 
track-record in leading-edge technology businesses brings highly 
credible and relevant experience and a skills-set that will fully 
support and further enhance IQE's aspirations and ambitions." 
 
   Phil Smith, Chairman Designate and Senior Independent Director, said: 
 
   "It is a great testament to the Group that someone of Tim's calibre and 
reputation has accepted the opportunity to be part of IQE team. I look 
forward to working closely with Tim at this exciting stage of our 
journey as he brings extremely valuable experience that will help us 
step confidently into the next phase of our growth." 
 
   Additional information 
 
   The following information is disclosed pursuant to Rule 17 and Schedule 
Two paragraph (g) of the AIM Rules for Companies. Timothy Neil Pullen, 
aged 40, has been a director or partner of the following companies or 
partnerships during the five years preceding the date of this 
announcement: 
 
 
 
 
Current Directorships / Partnerships  Past Directorships / Partnerships 
------------------------------------  ---------------------------------------- 
Stream Technologies Limited           Cornerstone Telecommunications 
                                      Infrastructure Limited 
------------------------------------  ---------------------------------------- 
IOT-X Limited                         Tesco Mobile Limited 
------------------------------------  ---------------------------------------- 
                                      Serco Listening Company Limited 
------------------------------------  ---------------------------------------- 
                                      Listening Limited 
------------------------------------  ---------------------------------------- 
 
   Mr. Pullen has no beneficial interest in the ordinary shares of IQE. 
 
   Save as set out above there are no further disclosures required pursuant 
to Rule 17 or Schedule 2, paragraph (g) of the AIM Rules for Companies 
in respect of Mr. Pullen's appointment to the IQE Board. 
 
   CONTACTS: 
 
 
 
 
IQE plc 
 Godfrey Ainsworth 
 Drew Nelson 
 Chris Meadows                  [phone] 
Canaccord Genuity (Nomad and 
 Joint Broker) 
 Simon Bridges 
 Richard Andrews               + 44 (0) 20 7523 8000 
Peel Hunt (Joint Broker) 
 Edward Knight 
 Nick Prowting                  [phone] 
 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

October 15, 2018 02:00 ET (06:00 GMT)

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