Wolfspeed Stock: 12 Percent Jump after Mattes Appointment
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Wolfspeed has completed a personnel restructuring at its top management and appointed experienced semiconductor manager Andy W. Mattes to the Board of Directors with immediate effect. This decision met with a positive response in the market: The stock today recorded a significant price jump of 12.04% and is currently trading at USD 22.48. The new addition is primarily intended to support strategic development in the field of silicon carbide technology. The 65-year-old Mattes is considered a distinguished expert in the technology industry and looks back on a career spanning over four decades. In the past, he served as CEO of Coherent and Diebold Nixdorf. Furthermore, he held leadership positions at renowned corporations such as Siemens, Hewlett-Packard, and the consulting firm McKinsey. He also contributes his experience as a member of the supervisory boards of AT&S, ams OSRAM, and Cohu. According to Robert Feurle, CEO of Wolfspeed, Mattes' operational leadership experience and strategic perspective are of great value for the company's upcoming growth phase. A particular focus is on the so-called SiC strategy. The company is increasingly focusing on silicon carbide semiconductors, which are used in electromobility and industrial applications. According to media reports, Mattes is expected to help consolidate the market position in this specialized segment. In addition to...
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