In an urgent shift, IQE has seen its CEO Americo Lemos depart effective immediately, leaving the semiconductor company struggling amid a challenging market and declining share prices.
Americo Lemos was tasked with steering IQE into promising sectors like micro-LEDs and GaN-on-SiC, but fierce competition and weak demand have impeded progress.
Despite a better-than-expected loss of £15.1 million in the first half of 2024 compared to the previous year's loss, shared revenue growth was overshadowed by significant declines in CMOS++ revenue.
Jutta Meier, the finance chief who joined IQE this year, steps in as interim CEO, tasked with stabilizing the company during this transitional period.
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