IQE plc announced the appointment of Bamdad ("Bami") Bastani and Maria Marced, two veteran semiconductor industry leaders, to IQE's Board of Directors as independent Non-Executive Directors. Their appointments will be effective from 1 January 2024, at which time Sir Derek Jones KCB will step down from the Board. Bami Bastani joins with a wealth of experience in the semiconductor industry, having spent seven years at GlobalFoundries, first as Senior VP and GM of the Mobile & Wireless Infrastructure Business Unit and then Senior VP and Senior Advisor to the CEO.

Bami also spent seven years as a board member of the Global Semiconductor Alliance (GSA) and has held President and CEO roles at Meru Networks, Trident Microsystems and ANADIGICS. Maria Marced is currently the President of Taiwan Semiconductor Manufacturing Company ("TSMC") Europe, a role she has held for over 16 years. Prior to that, Maria held Senior Vice President roles at NXP Semiconductors and spent 19 years as Vice President and EMEA General Manager at Intel Corp.

Sir Derek Jones KCB will step down as a Non-Executive Director on 1 January 2024, having joined the IQE Board in December 2017. Sir Derek has been an integral part of IQE's Board during his time.