Benzinga | Nov 22, 2021 06:49AM EST

IQE Appoints GlobalFoundries Executive As CEO

* British technology firm IQE PLC (OTC:IQEPY) announced the appointment of Americo Lemos as CEO, effective January 10, 2022.

* Lemos joins IQE from the executive team of GLOBALFOUNDRIES Inc (NASDAQ:GFS), a semiconductor designer and manufacturer.

* In 2020, Drew Nelson announced plans to step down. As previously announced, Nelson will retain an advisory and ambassadorial role for the business as a Non-Executive Director on the Board, with the title of President.

* The appointment follows an extensive search process led by Phil Smith, interim Executive Chairman of IQE.

* IQE makes semiconductor wafers for chips used in Apple Inc (NASDAQ:AAPL) products.

* Price Action: GFS shares traded higher by 4.20% at $64.72 in the premarket session on the last check Monday.