News

7th March 2003

Board Changes
Tom Hierl (CTO) and Steve Byars (COO) resign from Board

IQE, the leading outsource supplier of advanced wafers to the semiconductor industry, today announces the resignation from the Board of Directors of Tom Hierl, currently Chief Technical Officer and Steve Byars, currently Chief Operating Officer. The Board has accepted their resignations in support of the restructuring of the Group’s activities.

Both individuals will remain available as Consultants to the Group for a period of up to twelve months.

Drew Nelson, CEO, commented,

“Both Tom and Steve have been instrumental in growing IQE’s position within the Semiconductor Industry to be the leading supplier of advanced wafer products and the organisation has much to thank them for.

Tom was the original founder of QED which still forms the core of our business in the US today; Steve was instrumental in implementing many of the manufacturing controls and procedures found in the high volume Silicon sector and also in establishing IQE Silicon from a start-up and its subsequent positioning in the area of SiGe Epi and strained silicon technology.

These have been very difficult times and it is testament to their support and integrity that they are willing to step down, in order to assist our cost cutting and restructuring programme. Nevertheless, their talent and experience will continue to be available to the Group for the foreseeable future in their respective consultancy roles”.

Following these changes, the Board of Directors of IQE plc now comprises Dr Godfrey Ainsworth, Non Executive Chairman; Dr Andrew Nelson, President and Chief Executive Officer; Mr Simon Gibson, Non Executive Director; Mr Martin Lamb, Managing Director Wafer Technology Limited; and Dr Michael Scott, Sales and Marketing Director. IQE intends to appoint a third Non-Executive Director to replace Mr Glen Bressner, who resigned as Non Executive Director on 17 May 2002. Tim Hawkes, Acting CFO and Leslie Coventry, Company Secretary, continue to be Officers of IQE plc.
.
IQE plc [tel: +44 (0) 2920 839400]

Drew Nelson
Tim Hawkes
Chris Meadows

Evolution Beeson Gregory [+44 (0) 207 488 4040]

Matthew Wood
 

Buchanan Communications [+44 (0) 207 466 5000]

Nicola Cronk/Tim Thompson