Wolfspeed Taps New CFO Amid Restructuring Efforts

Wolfspeed, a semiconductor manufacturer, has appointed Gregor van Issum as its new CFO, effective September 1. Van Issum, a 20-year industry alum, previously worked at ams-OSRAM and NXP Semiconductors. The appointment comes after the company filed for Chapter 11 bankruptcy in June and aims to offload 70% of its debt. Van Issum will receive a base salary of $500,000, a performance bonus, and an award of restricted stock units.

Wolfspeed, Inc. (NYSE: WOLF), a semiconductor manufacturer specializing in silicon carbide technologies, has appointed Gregor van Issum as its new Chief Financial Officer (CFO), effective September 1, 2025. Van Issum, who brings over two decades of experience in the semiconductor industry, will succeed Kevin Speirits, who served as Interim CFO. The appointment follows Wolfspeed's recent filing for Chapter 11 bankruptcy protection in June, aimed at reducing its debt by approximately 70% [1].

Van Issum, who previously held executive roles at ams-OSRAM AG and NXP Semiconductors N.V., will receive a base salary of $500,000, a performance bonus, and an award of restricted stock units. His appointment comes as Wolfspeed continues to refresh its leadership team, with Dr. David Emerson joining as Chief Operating Officer in May [2]. Van Issum's experience in financial transformations and turnarounds at major semiconductor companies is expected to help Wolfspeed navigate its current financial challenges and position itself for long-term growth and profitability.

The appointment of van Issum coincides with Wolfspeed's ongoing restructuring efforts, which include a plan to reduce debt by approximately $4.6 billion and cut annual cash interest payments by 60%. The company expects to emerge from bankruptcy by the end of the third quarter of 2025 and has filed customary motions with the court to support ordinary operations, such as continuing employee compensation and benefits programs [1]. Notably, Wolfspeed shareholders could potentially recover up to 5% of their investment, which is atypical in bankruptcy scenarios.

The appointment of van Issum has sparked investor excitement, with Wolfspeed's stock surging over 24% in premarket trading on July 8, 2025, following the announcement [2]. The stock closed the previous session at $2.31, already up 95.76%, marking one of the most significant two-day gains in recent memory. The appointment of van Issum and the restructuring plan are seen as strategic efforts to strengthen Wolfspeed's capital structure and accelerate its path to profitability.

Wolfspeed's stock has shown high volatility, with a 52-week trading range of just $0.39 to $25.49. The company's market capitalization stands at $359.498 million, and its beta of 1.29 indicates relatively high volatility. The appointment of van Issum and the restructuring plan are expected to provide investors with greater transparency and clarity, which could help restore investor confidence in the company's future prospects.

Investors will be closely watching Wolfspeed's next earnings report, expected between August 19 and 25, 2025, as well as updates on the execution of the restructuring plan and any changes in analyst outlook. The coming weeks will be critical in determining whether Wolfspeed's turnaround efforts will be successful and whether the company can become a stronger player in the silicon carbide technology space.

References:
[1] https://in.investing.com/news/company-news/wolfspeed-appoints-gregor-van-issum-as-new-cfo-effective-september-93CH-4902055
[2] https://m.economictimes.com/news/international/us/wolfspeed-stock-skyrockets-over-20-whats-driving-the-move-is-this-the-start-of-a-bigger-breakout/articleshow/122323474.cms