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DURHAM - Wolfspeed, Inc. (NYSE:WOLF) has appointed Gregor van Issum as Chief Financial Officer effective September 1, 2025, the silicon carbide technology company announced in a press release statement. According to InvestingPro data, the company faces significant financial challenges with a market capitalization of $183.64 million and negative EBITDA of $312.3 million in the last twelve months.
Van Issum, who brings more than 20 years of experience in the semiconductor industry, will succeed Kevin Speirits, who has been serving as Interim CFO. Speirits will remain with the company to support the transition.
The new CFO most recently served as Executive Vice President and Group Controller at ams-OSRAM AG, where he also held the position of Chief Transformation and Performance Officer. His previous experience includes leadership roles at NXP Semiconductors N.V., where he served as Vice President of Strategy for the Secure Transactions and Identification Solutions segment.
"My priority will be providing Wolfspeed’s investors with transparency and clarity, especially during this transformative period," van Issum said.
Van Issum will report to Wolfspeed CEO Robert Feurle and will relocate to North Carolina to work from the company’s headquarters in Durham.
The appointment follows the addition of Dr. David Emerson, who joined Wolfspeed in May as Chief Operating Officer, as the company continues to refresh its leadership team.
Wolfspeed specializes in silicon carbide technologies used in various applications including power modules, discrete power devices, and power die products. The company has been working to position itself for long-term growth and profitability while navigating current market conditions.
In other recent news, Wolfspeed, Inc. has filed for Chapter 11 bankruptcy protection as part of a prepackaged restructuring plan aimed at reducing its debt by approximately 70%. The restructuring agreement, supported by over 97% of its senior secured note holders and 67% of its convertible note holders, is expected to cut Wolfspeed’s debt by about $4.6 billion and reduce annual cash interest payments by 60%. Wolfspeed plans to continue normal operations throughout the bankruptcy process, including delivering products to customers and paying vendors in the ordinary course of business. The company expects to emerge from bankruptcy by the end of the third quarter of 2025. Wolfspeed’s creditors, including Apollo Global Management Inc., are set to take control under the restructuring plan. This move is seen as a strategic effort to strengthen Wolfspeed’s capital structure and accelerate its path to profitability. The company has filed customary motions with the court to support ordinary operations, such as continuing employee compensation and benefits programs. Notably, Wolfspeed shareholders could potentially recover up to 5% of their investment, which is atypical in bankruptcy scenarios.
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