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Wolfspeed Adds Thomas Seifert and Woody Young to Board of Directors.
ByAinvest
Wednesday, Oct 16, 2024 8:07 am ET1min read
Wolfspeed, Inc. has nominated Thomas Seifert and Woody Young to its Board of Directors, to be voted on at the 2024 Annual Meeting. Seifert is the CFO of Cloudflare, Inc. and has held executive positions in technology and semiconductor firms, including AMD. Their addition aims to strengthen the company's financial expertise.
Wolfspeed, Inc. (WOLF), a leading player in the transformation from silicon to silicon carbide and gallium nitride (GaN) semiconductors, has announced the nomination of two highly accomplished executives, Thomas Seifert and Woody Young, to its Board of Directors [1]. Their addition is intended to strengthen the company's financial expertise as it continues to expand its operations and capitalize on the growing demand for silicon carbide power devices [1].Thomas Seifert, the current Chief Financial Officer (CFO) of Cloudflare, Inc., brings a wealth of experience in finance, technology, and the semiconductor industry. Throughout his career, Seifert has held executive positions in AMD and other tech firms, positioning him well to contribute to Wolfspeed's strategic financial decisions [1].
Woody Young, currently the non-executive chair of Autodesk and executive chair of Kioxia, formerly Toshiba Memory Corporation, boasts a distinguished career spanning 30 years at Intel [1]. During his tenure at Intel, Young held various roles, including chief financial officer, chief information officer, and group president for sales, manufacturing, and operations [1].
The new appointments come at an opportune time for Wolfspeed, as the company reported quarterly financials on October 30, 2023, and is expected to continue growing its market presence [2]. According to MarketScreener, Wolfspeed generated $409.4 million in revenue from power products in 2022, accounting for 44.4% of its total revenue [3]. With the company's ongoing expansion, Seifert and Young's expertise will be crucial in navigating the financial landscape and ensuring Wolfspeed's continued success.
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