Tim Pullen steps down suddenly as IQE finance chief

Semiconductor wafer product specialist IQE announced on Thursday that chief financial officer Tim Pullen had resigned from his position.

The AIM-traded firm said his departure would take effect from 6 June.

It said Neil Rummings, who had been with the company since April 2017, would step into the role of acting CFO with immediate effect.

In the meantime, IQE would initiate a search to fill the position of CFO permanently.

“I want to thank Tim for his many contributions to IQE,” said chief executive officer Americo Lemos.

“He has been a strong CFO and partner and has created the financial foundation to enable our next phase of growth.”

At 0806 BST, shares in IQE were down 3.25% at 20.85p.

Reporting by Josh White for Sharecast.com.