IQE Share News (IQE)

(Sharecast News) - Semiconductor wafer and materials supplier IQE announced the formation of an environmental, social and governance (ESG) board committee on Monday.
The AIM-traded firm said the committee's purpose would be to develop and monitor the execution of its ESG strategy, as well as to oversee the communication of its ESG activities with all stakeholders.

Its chairman Phil Smith would chair the committee, and would be joined by non-executive directors Drew Nelson and Sir Derek Jones.

Sir Derek would also be IQE's nominated workforce engagement representative, and would report to the committee on workforce engagement matters.

"This is an important step which reflects our commitment to continuous improvement and implementing best practice across the business," said chief executive officer Americo Lemos.

"While we recognise that we are at the beginning of our sustainability journey, our consideration of ESG issues is materially important to our future strategy and will be critical to ensuring a sustainable and viable business in the long term."

At 1001 GMT, shares in IQE were down 3.6% at 29.45p.