Appointment of Non-Executive Director
30 November 2017
Cardiff, UK. 30th November 2017: IQE plc (AIM: IQE, "IQE" or the "Group"), the leading global supplier of advanced wafer products and wafer services to the semiconductor industry, is pleased to announce that it has appointed Sir Derek Jones KCB as a non-executive director of the Company on 29th November 2017.
Until February 2017, Sir Derek Jones KCB (aged 64) was the Permanent Secretary of the Welsh Government (the devolved government of Wales, responsible for a wide range of policy and operations including economic development, trade, investment, transport, education, science, health, social care, local government, energy and the environment). As Permanent Secretary he led an organisation with an annual budget of some £15 billion; and a staff of 5,000 located in Wales, London, Brussels, the USA, Middle East and Far East. He was also a member of the UK Civil Service Board and its Senior Leadership Committee.
Sir Derek spent the earlier part of his government career in Whitehall, working at HM Treasury and the then Department for Trade & Industry, where he headed the Far East Trade Desk. In government in Wales he has also served as Director of Finance and Director of Economic Affairs, during which time he was instrumental in securing major inward investment projects, particularly from Japan and the USA.
Outside government, Sir Derek was Director of Business & Strategic Partnerships at Cardiff University, responsible for securing long-term collaborations with the private sector. Cardiff University is a member of the Russell Group of universities. It was rated fifth in the UK in the most recent Research Excellence Framework for the quality of its research and second for the impact of research. It is also ranked within the top 100 universities in the world and teaches over 30,000 students across all disciplines. Sir Derek is an Honorary Professor and Fellow of the University.
Sir Derek is currently the Chair of the Prince’s Trust in Wales and is a Vice President of Cardiff Business Club. He was made Companion of the Order of the Bath (CB) in 2009 and subsequently Knight Commander (KCB) in 2014, for services to economic and social conditions.
Dr Godfrey Ainsworth, Chairman of IQE said:
“I am delighted that Sir Derek has agreed to join IQE’s Board. His wealth of experience in leadership and governance, and his achievements supporting regional, national and international trade are great attributes which will enhance IQE’s ambitious growth plans.”
Sir David Grant, Chairman of the Nomination and Remuneration Committees, said:
“Sir Derek’s accomplishments as a leader within government are well known and I also know that his skills in the fields of higher education and innovation fit very well with IQE as a high technology company that employs and will continue to employ the most talented people at every level of the organisation.”
Due to his work in government, Sir Derek does not hold any other current directorships and has not held any past directorships within the last five years. Sir Derek does not hold any shares in the capital of the Company.
Save as disclosed above, there are no further disclosures required to be made in respect of the appointment under Schedule 2(g) or Rule 17 of the AIM Rules for Companies.
IQE plc +44 (0) 29 2083 9400
Canaccord Genuity + 44 (0) 20 7523 8000
Henry Fitzgerald O'Connor
Peel Hunt +44 (0) 20 7418 8900