secwatch.observer — SEC 8-K summary
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Issuer:     WOLFSPEED, INC. (WOLF)
CIK:        0000895419
Form:       8-K
Filed at:   2024-11-18T23:59:59+00:00
Accession:  0001193125-24-260426
Event type: leadership
Sentiment:  negative
Materiality: 0.80
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/895419/000119312524260426/0001193125-24-260426-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/895419/000119312524260426/d915019d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-260426

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer