Directorate Change

Board change

IQE plc (AIM: IQE, "IQE" or the "Group"), the leading global supplier of compound semiconductor wafer products and advanced material solutions, today announces that Dr Drew Nelson OBE is standing down from the Board of IQE with immediate effect. IQE's Board has retained Drew's services on a consultancy basis for a further year to provide continued expertise and support on industry-related issues.

Drew 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, and his role as Chairman of the Advisory Board of the All Party Parliamentary Group (APPG) on Semiconductors. IQE's recently appointed Board members bring a wealth of industry experience to the Board and give Drew the opportunity to pursue his interests now that IQE is well supported in its next phase of growth.

Drew has made an enormous contribution to the development of IQE, which he co-founded in 1988. From April 1999 until October 2021 he served as Group Chief Executive Officer, overseeing IQE's growth to become a global leader in compound semiconductor wafer products and services. He continued his engagement at IQE as President and a Non-Executive Director, where he has provided invaluable support to Americo as he transitioned into the CEO role.

Americo Lemos, Chief Executive Officer of IQE, commented:

"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."

Phil Smith, Chairman of IQE, commented:

"Drew's contributions to IQE as a founder, CEO and President cannot be understated. He has been instrumental to the business's growth from start-up to a global innovator and leader in the sector. Drew will continue to be a key figure in the semiconductor industry in his work with the South Wales Compound Semiconductor cluster, and other related activities, and we look forward to working with him in this capacity."

This announcement is issued on behalf of the Company by Jutta Meier, CFO.

• Smart Connected Devices
• Communications Infrastructure
• Automotive and Industrial
• Aerospace and Security