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Wolfspeed Announces Appointment of New Global Sales and Marketing Leadership
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Wolfspeed, Inc. (NYSE: WOLF) has promoted Rick Madormo to Senior Vice President of Global Sales and Marketing, succeeding Thomas Wessel, who will retire in June. Madormo has led the Americas sales team since 2018, contributing to a 37% growth in quarterly revenue. Owen DeLeon has been appointed as the new Vice President of Sales for the Americas, bringing 15 years of semiconductor experience from Intel. This leadership change is strategic for Wolfspeed as it aims to enhance its growth in Silicon Carbide technology.
Positive
Rick Madormo has a strong track record in sales leadership, having led the Americas sales team for four years.
Recent quarterly revenue growth of 37% indicates a positive trend in company performance.
Negative
None.
Rick Madormo Promoted to Senior Vice President of Global Sales and Marketing; New VP of America Sales Also Named
DURHAM, N.C.--(BUSINESS WIRE)--
Wolfspeed, Inc. (NYSE: WOLF), the global leader in Silicon Carbide technology, today announced the promotion of Rick Madormo to Senior Vice President of Sales and Marketing, succeeding Thomas Wessel, who plans to retire at the end of June. In anticipation of Madormo’s promotion, Wolfspeed has hired Owen DeLeon as the company’s new Vice President of Sales for the Americas.
"For the past four years, Rick has led our Americas sales team, and with his deep experience and strong track record of leadership and execution, he is the right choice to lead Wolfspeed through its next phase of continued growth and value creation,” said Gregg Lowe, Wolfspeed president and CEO. “Thomas demonstrated tremendous leadership and vision during his tenure at Wolfspeed and leaves us having achieved a great deal, not the least of which was developing a depth and breadth of talent that is the best in the industry. We wish him well in his retirement.”
Madormo has led Wolfspeed’s Americas Sales organization since 2018, focused on the business development strategy, pipeline growth, and organizational structure, supporting the company’s most recent quarterly revenue growth of 37 percent. An industry veteran, Madormo has more than 25 years of semiconductor experience with sales leadership roles at Intel, Altera, and others.
“It is an exciting time to be at Wolfspeed, as we continue to find new ways to support our customers and drive the global transition from silicon to Silicon Carbide,” said Madormo. “I look forward to the new challenge of leading our global sales and marketing organization and helping the team achieve even greater impact for our customers.”
DeLeon adds 15 years of semiconductor industry experience to Wolfspeed, most recently with Intel Corp, where he served as Senior Director of Sales, Americas and General Manager of its Programmable Solutions Group business in the Americas.
About Wolfspeed, Inc.:
Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of Silicon Carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include Silicon Carbide materials, power-switching devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defense. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.
Wolfspeed® is a registered trademark of Wolfspeed, Inc.
