IQE Says Finance Head Phillip Rasmussen Has Died In Cycling Incident

3rd Apr 2018 09:57

LONDON (Alliance News) - IQE PLC, a semiconductor wafer maker, said Tuesday its long-serving Chief Financial Officer Phillip Rasmussen has died due to a cycling incident that took place on Sunday whilst on holiday abroad.

Godfrey Ainsworth, currently non-executive chairman, will become executive chairman providing support to the Chief Executive Drew Nelson, concentrating on investor and external relations, the company said. Ainsworth will also provide oversight support on an interim basis to the finance team.

Shares in IQE were trading 4.8% lower at 122.30 pence on Tuesday.

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