Chipmaker Wolfspeed (WOLF.N) has named Robert Feurle as its new CEO, effective May 1, replacing interim chief Thomas Werner, who will resume his role as chairman. Feurle, a seasoned semiconductor executive, previously held key positions at Micron Technology, Infineon Technologies, and ams-OSRAM AG.
The leadership change follows the board’s decision to oust former CEO Gregg Lowe in November without cause. Wolfspeed has been restructuring its operations, including facility closures, to improve profitability amid slowing demand from automotive, industrial, and energy markets.
Feurle expressed confidence in revitalizing the company’s operating plan and accelerating its path to positive free cash flow. Wolfspeed continues to focus on silicon carbide technology, with significant investment in a 200-millimeter silicon carbide fab to enhance efficiency and production capacity.
Despite the announcement, Wolfspeed’s shares fell about 2% in early trading.
