Wolfspeed President And CEO Gregg Lowe To Depart

(RTTNews) - Wolfspeed, Inc. (WOLF) announced Monday 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 Chief Executive Officer and as a member of the Board.

The Board is conducting a search to identify a permanent CEO with the support of a leading 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.

Werner has been a member of the Board of Directors since March 2006, and has served as Chairman of the Board of the Company since October 2023. He has served as the Executive Chairman of SunPower Corp. since February 2024, and served as Principal Executive Officer of SunPower from February 2024 until August 2024.

Werner previously served as Sunpower's Chairman of the Board of Directors from June 2010 to November 2021 and as its Chief Executive Officer from June 2003 to April 2021.

Prior to SunPower, he served as Chief Executive Officer of Silicon Light Machines Corp. from July 2001 to June 2003. Earlier, Werner was Vice President and General Manager of the Business Connectivity Group of 3Com Corp., a network solutions company.