Wolfspeed appoints new CEO amidst funding crisis
US SiC specialist Wolfspeed has appointed Robert Feurle as CEO, effective May 1, 2025. Feurle succeeds Thomas Werner, who is serving as interim executive chairman and will return as chairman of the board following the transition.
Feurle brings more than 20 years leading organisations that develop advanced power semiconductor solutions in automotive and other high voltage applications, including both silicon and SiC. However, he arrives at a difficult time for Wolfspeed, whose shares on the 28th March 2025 lost half their value (hitting their lowest level since 1998), as funding through a Joe Biden-era legislation that promised subsidies for chip making in the United States remains uncertain.
Wolfspeed is waiting on about $750 million in federal funding under the US CHIPS Act, the 2022 bipartisan law which promised $52.7 billion in subsidies for domestic semiconductor chips manufacturing and production. But earlier this month, President Donald Trump said US lawmakers should get rid of the law and use the proceeds to pay debt.
"Wolfspeed's CHIPS Act grant ended up being the highest-dollar CHIPS grant to not be officially awarded before Biden's exit, leaving it particularly vulnerable to being pulled under the new administration," Brooks Idlet, senior analyst at CFRA Research told the news agency Reuters.
Without the grant, Wolfspeed would face devastating consequences requiring major restructuring to preserve cash, Idlet added.
The chipmaker said on Friday that it accrued $865 million in tax credits, using which it intends to strengthen its capital structure.
Feurle previously served as executive VP and general manager of the Opto Semiconductors Business Unit at Ams Osram AG, where he was responsible for managing more than 10,000 employees in sites and factories around the world.
There, he expanded market share and accelerated the introduction of cutting-edge LED and laser products into automotive and new advanced LED applications.
During his tenure at Infineon, Feurle became familiar with the SiC industry. He said: "I believe we have just begun to scratch the surface of the vast potential of SiC. Wolfspeed’s world-class facilities, exceptional talent, and robust intellectual property, position us to maintain and expand our market leadership”.
At Infineon, he spearheaded new product introductions in the field of IGBT and SiC technologies and increased focus on competitive differentiation and profitable growth. He was also part of the team at Infineon supporting the proposed acquisition of the Wolfspeed operations in 2016.
A citizen of both the United States and Germany, Feurle will be returning to the United States where he previously spent a decade in executive roles at Micron Technology and will be relocating to the company’s headquarters in Durham, North Carolina, where he will work closely with Werner to ensure a smooth transition.
