Wolfspeed CFO to Step Down as Company Navigates Capital Restructuring

Wolfspeed Inc.’s Executive Vice President and Chief Financial Officer Neill Reynolds will depart the company at the end of May as part of a planned leadership transition.

Reynolds is expected to remain in his role until May 30 to assist with ongoing lender negotiations aimed at bolstering the company’s capital structure. He will also participate in Wolfspeed’s fiscal third-quarter earnings call, scheduled for May 8.

The semiconductor firm, headquartered in Durham, said the decision was mutual and that Reynolds is leaving to pursue another professional opportunity.

“Neill has been an important partner as we navigate our liability-management initiatives and position Wolfspeed for its next phase,” said Thomas Werner, Wolfspeed’s executive chairman, in a statement. “We appreciate his commitment to staying on to support our efforts to strengthen the company’s balance sheet.”

Wolfspeed has launched a search for a new CFO and is working with a national executive-search firm to consider both internal and external candidates.

The company also reaffirmed its financial guidance for the third quarter of fiscal year 2025.

Wolfspeed is a global leader in silicon carbide semiconductor technologies, used in a range of high-efficiency energy and power applications.

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