IQE PLC Iqe Plc: Directorate Change
15 October 2018 - 5:00PM
UK Regulatory
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 +44 (0) 29 2083 9400
Canaccord Genuity (Nomad and
Joint Broker)
Simon Bridges
Richard Andrews + 44 (0) 20 7523 8000
Peel Hunt (Joint Broker)
Edward Knight
Nick Prowting +44 (0) 20 7418 8900
(END) Dow Jones Newswires
October 15, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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