Wolfspeed nominates two new board members
Wolfspeed has nominated Thomas Seifert and Woody Young to its board of directors. Their nominations will be considered by shareholders at the 2024 Annual Meeting of Shareholders scheduled for December 5, 2024.
Seifert has served as the chief financial officer of Cloudflare, a leading internet security company, since June 2017. Prior to joining Cloudflare, Seifert held executive leadership positions at a number of technology and semiconductor companies, including serving as CFO of Symantec Corporation, Brightstar , and Advanced Micro Devices. Seifert currently serves as a member of the board of directors of First Derivatives an analytics software company.
Young most recently served as the president and a member of the board of directors of Solidigm, a flash memory semiconductor company, from October 2022 until August 2023. Young has over 30 years of experience as an investment banker and is the former chairman of Mergers and Acquisitions at Perella Weinberg Partners LP. He previously served as the co-head of Global Telecommunications, Media, and Technology at Lazard and in similar roles at Merrill Lynch and Lehman Brothers. Young currently serves as a member of the board of directors of Frontier Communications Parent, a fibre internet provider.
“We are delighted to nominate Thomas Seifert and Woody Young for election to the Wolfspeed board of directors,” said Thomas Werner, chair of the Wolfspeed Board. Werner continued, “With yesterday’s CHIPS Act capital structure update, I believe the company successfully took a key step towards funding the execution of its business plan. We believe Thomas and Woody will be valuable additions to the board as we focus on executing that plan, driving operational execution improvement, and continuing our previously disclosed efforts to explore ways to enhance shareholder value and unlock Wolfspeed’s strategic value.”
Clyde R. Hosein and John B. Replogle, who have served on the board since 2005 and 2014, respectively, are not standing for re-election and will retire from the board following the expiration of their terms at the 2024 Annual Meeting.
