Wolfspeed CEO Gregg Lowe departs; Chairman Thomas Werner appointed Executive Chairman

WOLFSPEED, INC.

Gregg Lowe terminated without cause, effective Nov 18; foregoes 1.5x target bonus severance.
Board appoints Thomas Werner as Executive Chairman and interim principal executive officer.
Search for permanent CEO underway with a leading global executive search firm.
Stacy Smith appointed Lead Independent Director; Werner leaves Compensation Committee.
Executive Chairman to drive CHIPS PMT milestones, restructuring, and sales growth.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Stacy J. Smith

Lead Independent Director

WOLF · WOLFSPEED, INC.

Filed: November 18, 2024, 6:59 PM ET

Stacy J. Smith has been appointed as Lead Independent Director.

Role change (interim)

Thomas H. Werner

Executive Chair

WOLF · WOLFSPEED, INC.

Effective: 2024-11-18
Filed: November 18, 2024, 6:59 PM ET

On November 15, 2024, the Company’s Board of Directors appointed Thomas H. Werner, current Chair of the Board, as Executive Chair effective as of November 18, 2024, in which role he will serve as the Company’s principal executive officer on an interim basis

Departed

Gregg A. Lowe

President and Chief Executive Officer

WOLF · WOLFSPEED, INC.

Effective: 2024-11-18
Filed: November 18, 2024, 6:59 PM ET

On November 18, 2024, Wolfspeed, Inc. (the “Company”) announced the departure of its President and Chief Executive Officer, Gregg A. Lowe.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.9

Stacy J. Smith was appointed as Lead Independent Director at WOLFSPEED, INC..

Action: appointed
Role: Lead Independent Director

Exact text from the filing

Stacy J. Smith has been appointed as Lead Independent Director.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas H. Werner was appointed as Executive Chair at WOLFSPEED, INC..

Action: appointed
Role: Executive Chair

Exact text from the filing

On November 15, 2024, the Company’s Board of Directors appointed Thomas H. Werner, current Chair of the Board, as Executive Chair effective as of November 18, 2024, in which role he will serve as the Company’s principal executive officer on an interim basis

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Gregg A. Lowe departed as President and Chief Executive Officer at WOLFSPEED, INC..

Action: stepped down
Role: President and Chief Executive Officer

Exact text from the filing

On November 18, 2024, Wolfspeed, Inc. (the “Company”) announced the departure of its President and Chief Executive Officer, Gregg A. Lowe.

View on SEC.gov

WOLFSPEED, INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-260426

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