Wolfspeed CEO Gregg Lowe to depart

Wolfspeed (WOLF) announced that its board of directors has determined and agreed with Gregg Lowe that he will depart this month from his roles as Wolfspeed’s president and CEO and as a member of the board. The board is conducting a search to identify a permanent CEO with the support of a global executive search firm. The board has appointed Thomas Werner, chairman of the board, as executive chairman while the board works to identify Wolfspeed’s next CEO. Werner will oversee the continued execution of Wolfspeed’s strategy in close alignment with Wolfspeed’s senior leadership team, the board and the board’s operations and finance committees. Following Werner’s appointment as executive chairman, board member Stacy Smith was appointed as lead independent director.