British tech firm IQE names chipmaker GlobalFoundries’ Lemos as CEO

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.