Wolfspeed names chip industry veteran Robert Feurle as CEO

Reuters

Thu, Mar 27, 2025, 6:44 AM 1 min read

(Reuters) - Chipmaker Wolfspeed said connected Thursday it appointed manufacture seasoned Robert Feurle arsenic its CEO, months aft its committee ousted erstwhile apical brag Gregg Lowe.

Feurle, who has antecedently spent a decennary successful enforcement roles astatine Micron Technology, volition win Thomas Werner effectual May 1. Werner volition instrumentality to his relation arsenic chairman.

Lowe was ousted successful November without cause.

Feurle astir precocious served astatine European semiconductor steadfast ams-OSRAM AG arsenic enforcement vice president of the company's Opto Semiconductor concern unit. Prior to that, helium served arsenic wide manager astatine chipmaking steadfast Infineon Technologies AG.

Wolfspeed has revamped its operations, including closing down immoderate of its facilities past year, to boost its profitability amid slowing orders from the automotive, concern and vigor extremity markets.

"I consciousness precise assured that we volition beryllium capable to enactment done this transformative play to refresh the operating plan, amended fiscal show and accelerate our way to affirmative escaped currency flow," Feurle said successful a statement.

The institution is besides looking to capitalize connected the increasing request for chips that are manufactured utilizing silicon carbide technology. It has doubled down connected a 200-millimeter silicon carbide fab, which improves ratio and accumulation capacity.

Shares of the Durham, North Carolina-based institution slipped astir 2% successful aboriginal trading.

(Reporting by Kritika Lamba successful Bengaluru; Editing by Sriraj Kalluvila)