British tech firm IQE names chipmaker GlobalFoundries’ Lemos as CEO

(Reuters) -British technology firm IQE Plc on Monday named New York-based peer GlobalFoundries’ Americo Lemos as its chief executive officer effective Jan. 10, ending a roughly year-long search for a successor to founder Drew Nelson.

Nelson last year announced plans to step down after three decades at the helm of IQE, which makes semiconductor wafers for chips used in Apple products. He will be become president of the board.

“The depth and breadth of (Lemos’) industry expertise make him the natural choice to take the business forward in its next stage of growth,” said IQE Executive Chairman Phil Smith.

Lemos takes charge of the company at a time when countries are poised for a rollout of 5G technology, which is also a significant new market for chipmakers such as IQE.

Lemos, 54, was responsible for development for GlobalFoundries’ business in Asia Pacific and China – major regional markets for IQE – and has also had stints with Qualcomm, Intel , Texas Instruments and Skyworks.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Shailesh Kuber)