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ALPHAWAVE IP GROUP
PLC
Announcement regarding
leadership transition
LONDON, United Kingdom and TORONTO, Ontario, Canada 5 December
2024 - Alphawave IP Group plc
(LSE: AWE, the "Company" or "Alphawave Semi") today announces that John Lofton Holt has informed the Board
of his intention to retire from the Company for personal
reasons.
Mr. Holt will step down as Executive
Chair and as an Executive Director of the Board effective as of 6
December 2024.
Jan Frykhammar will assume the role
of non-executive Chair of the Board effective as of 6 December
2024. Mr. Frykhammar has served on the Board as Senior Independent
Non-Executive Director since April 2021 and has extensive
experience as a senior executive, chairman and non-executive
director, including as Group Executive Vice President and Chief
Financial Officer, and interim Chief Executive Officer, at Ericsson
Group. The Company does not intend to appoint a new Chair in
an executive capacity.
"I've dedicated the last four years
to helping Alphawave Semi become a leader in the wired connectivity
space," said Mr. Holt. "I'm extremely proud of what the team has
accomplished and look forward to seeing the Company execute on its
vertically integrated semiconductor strategy. Jan's
leadership will help Alphawave Semi achieve its long-term
ambitions, and I wish Tony and the team the greatest of successes
in the future."
"John has been an extraordinary
Executive Chair for Alphawave Semi," said Mr. Frykhammar. "John's
tireless efforts and determination were instrumental in taking the
Company public and setting the Company on its current growth
trajectory. I am honoured to take on the Chair role to help
the management team execute on its ambitious vision to bring
connectivity and compute to world's leading data centre
providers."
The Company is also pleased to
announce that, in line with the Company's succession planning,
Rahul Mathur has been appointed as Chief Operating Officer. Mr.
Mathur will perform this role alongside his existing role as Chief
Financial Officer and will join the Board of Directors effective as
of 6 December 2024. Mr. Mathur has served as Chief Financial
Officer for the Company since October 2023, and has extensive
experience in M&A, corporate finance, strategic planning,
investor relations and risk management.
"I want to thank John for his many
years of partnership and dedication to Alphawave Semi," said Tony
Pialis, co-founder and CEO. "John's passion, integrity,
resourcefulness and many contributions were critical to
establishing the foundations for our Company's success. All of us
wish John the very best in the future. I am delighted to work with
Jan and Rahul in their expanded roles. Their decades of leadership
experience at leading publicly traded technology companies will be
invaluable as we realise our plans to become the industry's next
great semiconductor company."
The remuneration arrangements
relating to Mr. Holt's departure will be disclosed in accordance
with section 430(2B) of the Companies Act 2006 on Alphawave Semi's
website in due course.
No information is required to be
disclosed pursuant to UKLR 6.4.8R.
About Alphawave Semi (LSE: AWE)
Alphawave Semi is a global leader in
high-speed connectivity for the World's technology infrastructure.
Faced with the exponential growth of data, Alphawave Semi's
technology services a critical need: enabling data to travel
faster, more reliably and with higher performance at lower power.
We are a vertically integrated semiconductor company, and our IP,
custom silicon, and connectivity products are deployed by global
tier-one customers in data centres, compute, networking, AI, 5G,
autonomous vehicles, and storage. Founded in 2017 by an expert
technical team with a proven track record in licensing
semiconductor IP, our mission is to accelerate the critical data
infrastructure at the heart of our digital world. To find out more
about Alphawave Semi, visit: awavesemi.com.
Alphawave Semi and the Alphawave
Semi logo are trademarks of Alphawave IP Group plc. All rights
reserved.
Contact Information
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Alphawave Semi
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Rahul Mathur
CFO
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ir@awavesemi.com
+44 (0) 20 7717 5877
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Grand Bridges Marketing Ltd
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Claudia Cano-Manuel
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press@awavesemi.com
+44 7562 182327
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LEI: 213800ZXTO21EU4VMH37