SOITEC

SOITEC ANNOUNCES CHANGES TO BOARD OF DIRECTORS

SOITEC ANNOUNCES CHANGES TO BOARD OF DIRECTORS

• Eric Meurice elected as Chairman of the Board, succeeding Thierry Sommelet

• Heartfelt tribute paid to Thierry Sommelet, who assumed the role of Chairman of the Board during a prolonged transition period

Bernin (Grenoble), France, March 28^th, 2019 - Soitec (Euronext Paris), a world leader in designing and manufacturing innovative semiconductor materials, today announces decisions taken by its Board of Directors during its meeting yesterday in Singapore.  

During this meeting, Eric Meurice has been elected by his peers as Chairman of the Board. He succeeds Thierry Sommelet, who assumed this role during a prolonged 16-month transition period.

The latter will continue contributing to the works of the Board as well as to the Committees on which he serves⁽¹⁾. As for Eric Meurice, he retains his positions of Chairman of the Strategic Committee and Member of the Nomination Committee.

It is recalled that Thierry Sommelet was elected Chairman on November 29^th, 2017⁽²⁾, for a transition period due to expire at the close of the Shareholders' General Meeting convened to approve the financial statements for the fiscal year ending on March 31, 2018. During the Board meeting held on June 13^th, 2018, it was decided to extend this transition period beyond its initial term.

The Board of Directors welcomes the election of Eric Meurice whose profile fits the needs of the Company given his background as a senior executive of a number of internationally-renowned technology companies, primarily in the semiconductor industry, the multicultural dimension of his career, as well his experience as a director of large international companies.

Lastly, the Board of Directors paid a unanimous and heartfelt tribute to Thierry Sommelet, warmly thanking him for having skilfully and efficiently assumed the role of Chairman of the Board during the past 16 months, beyond his invaluable personal contribution.

Resignation of Nabeel Gareeb

The Board of Directors acknowledged the resignation of Nabeel Gareeb as a Director of the Company⁽³⁾, with immediate effect. This comes as a result of a reorganisation within NSIG group. NSIG Sunrise S.à.r.l. has informed the Board of Directors of its intention to propose without delay a candidate who will succeed Nabeel Gareeb by co-optation.

Eric Meurice's Biography

A French national, Eric Meurice, 62 years-old, serves as a non-executive director at NXP Semiconductors N.V. since April 2014, IPG Photonics Corp. since June 2014, UMICORE SA since April 2015 and Meyer Burger AG since May 2018.