Wolfspeed names new CEO to steer turnaround at NC semiconductor chipmaker
The Durham semiconductor company Wolfspeed has named a new leader to steer the large but struggling chipmaker through its pivotal next stage.
Robert Feurle will begin as Wolfspeed CEO on May 1, the company announced Thursday. He most recently served as executive vice president at the European semiconductor manufacturer ams-OSRAM AG and previously held vice president roles at Qimonda, Micron Technology, and Infineon.
Feurle will relocate from Germany to lead Wolfspeed, which has had a decades’ long history in the Triangle but a troubled past two years. Its stock price has fallen from above $100 a share to below $6 today, and aggressive cost cutting efforts have led to sizeable layoffs since late 2024.
In November, Wolfspeed fired its CEO Gregg Lowe, who had guided the company (formerly named Cree) away from its traditional LED light divisions and exclusively toward producing a unique semiconductor material called silicon carbide, which is used to power electric vehicles, power supply units, and other industrial appliances.
Before the layoffs, Wolfspeed ranked as the No. 5 largest employer in Durham County according to state commerce data.
“He comes into this with a lot of ideas on how to increase our revenue and diversify our revenue,” Thomas Werner, Wolfspeed board chair who is serving as interim CEO, said during a virtual conference with reporters Thursday. “So, he’s got technology, operations and customer which were the primary attributes that we were looking for.”
Top on Feurle’s agenda will be launching a massive materials plant in western Chatham County, near Siler City, which Wolfspeed anticipates opening in June. Additional efforts include increasing production at the company’s wafer fabrication facility in New York State and securing federal CHIPS Act funding from the new Trump administration.
Werner said Wolfspeed’s project leader is still employed at the CHIPS for America office, despite the division losing a portion of its staff since the new administration took office. The interim CEO also acknowledged the effects tariffs could have on the company’s operations, particularly around electric vehicles, saying Feurle will prioritize navigating “geopolitics” when it comes to trade.
This story was originally published March 27, 2025 at 2:01 PM.
