24 November 2020
IQE’s Drew Nelson to relinquish CEO role
Epiwafer foundry and substrate maker IQE plc of Cardiff, Wales, UK has announced a new stage in its evolution as founder Dr Drew Nelson plans to step aside from his role as CEO once a successor has been found.
“I have been extremely proud and privileged to serve IQE and its shareholders as CEO for the last 30 years,” says Nelson.
IQE says that this will enable a new CEO to lead it during its next phase, as it positions itself to capitalize on both its market position and the growth opportunities presented by the advent of 5G and the Internet of Things.
Nelson will remain as CEO until the right individual is appointed. Following any necessary handover period, he will become a board member with the title of president. As such, he will act in an advisory and ambassadorial role for the business, which he co-founded in 1988.
“I want to thank Drew for his ongoing passion, commitment and contribution to IQE,” says chairman Phil Smith. “Continuing as a board member once the new CEO is in place, he will be able to provide IQE with his expertise and industry knowledge.”
Under his stewardship, IQE has grown to 650 staff and a footprint spanning Europe, the USA and Asia. Nelson has also been the driving force behind the establishment of the world’s first compound semiconductor cluster (CS Connected), located in South Wales, and he plans to devote more of his time to the further development of the CS Cluster.
On 5 November Mrs Carol Chesney FCA was appointed as the senior independent director. She joined IQE’s board in May 2019 and is chair of the Audit and Risk Committee.