IQE recruits chief financial officer from ARM

Epiwafer foundry and substrate maker IQE plc of Cardiff, Wales, UK has appointed Tim Pullen as chief financial officer. Following completion of his current notice period, he is expected to join the board in early 2019.

Pullen is currently chief financial officer of global semiconductor and software design company ARM Ltd (owned by Softbank Group), where he has been focused on executing the investment strategy and scaling its finance and business capabilities.

Previously, Pullen was finance director at O2/Telefonica UK, where he held senior financial positions including responsibility for Technology Operations, B2B and Digital segments and Finance Operations. He was also a non-executive director of Tesco Mobile (O2’s joint venture with Tesco Mobile) and a director of Cornerstone Telecommunications Infrastructure Ltd (O2’s network sharing joint venture with Vodafone). Before O2, Pullen held senior finance roles at Serco Group plc (a British provider of outsourcing services) including the BPO Division in UK & Europe, the Global Technology business and in Business Transformation. He is a Chartered Accountant and qualified with Ernst & Young.

Executive chairman & interim CFO Dr Godfrey Ainsworth FCA has agreed to remain in post to oversee the handover. As previously announced, Ainsworth will retire from the board on or before the date of the 2019 annual general meeting (AGM). Former Cisco chairman Phil Smith (who joined the board in December 2016) will become non-executive chairman on 31 March 2019.

“Tim has built a successful career leading the finance functions of some of the UK’s leading technology and outsourcing companies. With Tim’s very relevant sector industry experience, leadership and overall vision for the finance function at IQE, he will continue to build upon the exceptional work achieved by the late Phillip Rasmussen, his predecessor,” believes CEO Dr Drew Nelson. “I would also like to take this opportunity to thank Godfrey for his outstanding support in his role as interim CFO,” he adds.

“Following an extensive search and selection process, we have appointed an excellent CFO in Tim Pullen, whose proven track-record in leading-edge technology businesses brings highly credible and relevant experience and a skills-set that will fully support and further enhance IQE’s aspirations and ambitions,” comments Sir David Grant, chair of Remuneration and Nominations Committees.

“It is a great testament to the group that someone of Tim’s calibre and reputation has accepted the opportunity to be part of IQE team,” notes Phil Smith, chairman designate and senior independent director. “He brings extremely valuable experience that will help us step confidently into the next phase of our growth.”

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