Alphawave IP Group plc (LON: AWE), Alphawave Semi, has announced 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.
