Directorate Change

9 Jan 2007 10:04

IQE PLC09 January 2007 9 January 2007 IQE plc Director Appointment The Board of IQE ('the Group', AIM: IQE), the leading global outsource supplierof customised wafer products and outsource wafer services to the semiconductorindustry, is pleased to announce the appointment of Phil Rasmussen as GroupFinance Director with effect from March 2007. Phil, age 36, is currently aDirector of Transaction Services with PwC in Bristol and will take up theposition vacated by Stuart Hall. Stuart has decided to return to the North ofEngland with his family, where he was based prior to joining IQE, and take up afurther senior finance role. Phil qualified as a Chartered Accountant in the audit practice of Coopers andLybrand, a predecessor firm of PricewaterhouseCoopers LLP ("PwC"). During hiscareer with PwC he spent two years in Toronto, Canada and has gained significantexperience of working with and advising a broad range of companies in a varietyof sectors, including multinational main market and AIM listed companies. Philholds a first class honours degree in Mathematics gained from CardiffUniversity. Further details as required under Schedule 2(g) of the AIM Rules are containedin Appendix One to this announcement. Dr. Godfrey Ainsworth, Chairman of IQE said: "We have worked with Phil on a number of transactions and he joins IQE with anexcellent understanding of our outsource business model and its potential.Although we are sorry to lose Stuart, who returns with his family to take up anappointment in the North of England, Phil will start with an already very stronglevel of operational knowledge of IQE and will make an immediate and substantialcontribution to the management of the Group." Dr. Drew Nelson, Chief Executive Officer of IQE said: "We are delighted to welcome Phil to our team. He joins us at an exciting timefollowing the recent acquisitions of EMD and MBET, and having been intimatelyinvolved in both, he knows IQE's business first hand. We have been veryimpressed by the quality of his work. "On behalf of the Board and staff of IQE, I would also like to extend my thanksto Stuart who has played a key role in helping shape the business to ensure thatthe Group is firmly in line for sustainable profitability during the comingmonths and years." IQE will report its preliminary results for the year ended 31 December 2006 atthe end of March 2007. Enquiries: IQE plc www.iqep.com. +44(0) 29 2083 9400 Godfrey Ainsworth, Chairman Dr Drew Nelson, Chief Executive Chris Meadows, Investor Relations Noble & Company Limited +44(0) 20 7763 2200 John Llewellyn-Lloyd/Sam Reynolds College Hill Adrian Duffield/Ben Way +44(0) 20 7457 2020 Note to Editors IQE is a global leader in the manufacture of complex wafer products andoutsourced foundry services to the semiconductor industry. IQE uses advancedcrystal growth technology (epitaxy) to manufacture and supply bespokesemiconductor wafers ("epi-wafers") to the major chip manufacturing companies,who then use these wafers to make the chips which form the key components ofvirtually all high technology systems. IQE is unique in being able to supplywafers using all of the leading crystal growth technology platforms. IQE's products are found in many leading edge consumer, communication, computingand industrial applications, including a complete range of wafer products forthe wireless industry, including mobile handsets and wireless infrastructure,WiFi, WiMAX, base stations, GPS, and satellite communications; opticalcommunications, optical storage (CD, DVD), laser optical mouse, laser printers &photocopiers, thermal imagers, leading edge medical products, barcode, highefficiency LEDs and a variety of advanced silicon based systems. IQE is also a leading global outsource supplier of advanced semiconductorwafers, with products that cover the whole spectrum of wafer structures,supported by an innovative outsourced services portfolio that allows the Groupto provide a "one stop shop" for the wafer needs of the world's leadingsemiconductor manufacturers. These manufacturers are increasingly seeking to outsource wafer production tospecialist foundries such as IQE, in order to reduce overall wafer costs andaccelerate time to market. IQE provides bespoke R&D services to deliver customised materials for specificapplications and offers specialist technical staff to manufacture tospecification either at its own facilities or on the customer's own sites. TheGroup is also able to leverage its global purchasing volumes to reduce the costof raw materials. In this way IQE's outsourced services provide compellingbenefits in terms of flexibility and predictability of cost, therebysignificantly reducing operating risk. IQE employs around 320 people and operate six manufacturing facilities locatedin Cardiff (two) and Milton Keynes in the UK, and in Bethlehem, Pennsylvania andSomerset, New Jersey in the USA, and Singapore. The Group also has nine salesoffices located in major economic centres worldwide. Appendix One In accordance with Schedule 2(g) of the AIM Rules, the following information inrelation to the appointment of Mr Phil Rasmussen to the Board of IQE, isdisclosed below: Mr Rasmussen has no current directorships and partnerships. Mr Rasmussen has nopast directorships and partnerships in the preceding five years. There are nofurther disclosures to be made in accordance with Schedule 2(g) of the AIMRules. This information is provided by RNS The company news service from the London Stock Exchange