Former Freescale Semiconductor CEO to take over as Cree’s top executive. Also, former Glaxo executive Bob Ingram is the new chair of the Cree board.
The new CEO is Gregg Lowe.
He assumes the job on Wednesday, Cree disclosed early Monday morning.
“Very excited and honored to be joining the team at Cree,” Lowe said via LinkedIn.
Lowe replaces longtime CEO Chuck Swoboda, who also had served as chair.
Lowe also will be a member of the Cree board.
Swoboda, who announced plans to retire earlier this year, will remain on the board until the company’s annual meeting on Oct. 24.
Ingram already is a member of the Cree board.
“Gregg is an exceptional leader and a proven visionary in the semiconductor industry,” Ingram said of the new CEO
“We are proud that he has accepted the CEO position and is prepared to lead this innovative, technology-rich company into the future.”
“I want to thank Chuck Swoboda for guiding this company for the past sixteen years. His leadership helped solidify Cree as an industry leader in multiple businesses,” Lowe said in a statement.
“Cree’s innovation engine is unmatched in the industry. I am honored to be a part of this team and look forward to working with the employees and the board to establish and execute a clear vision for the company moving forward.”
Lowe led Freescale, a $5 billion company with 17,000 employees, from 2012-2015.
He earlier spent 28 years at Texas Instruments as a senior executive.
Lowe is a graduate of Rose-Hulman Institute of Technology with a degree in electrical engineering. He also completed Stanford University’s executive program.