Wolfspeed Names David Emerson COO Amid Bankruptcy Reports: Retail Turns Exuberant

Wolfspeed Inc. (WOLF) announced a significant addition to its leadership team as it intensifies efforts to optimize manufacturing operations and scale production of next-generation silicon carbide technologies.

David Emerson has been appointed to the newly established position of Executive Vice President and Chief Operating Officer, effective immediately. 

In this role, he will oversee critical areas such as operations, supply chain management, and quality control.

Emerson had previously headed the LED Products division at Wolfspeed. In his earlier role at the company, then known as Cree Inc., he managed complex issues, including heightened U.S. regulatory oversight related to international trade and market competition.

Wolfspeed’s decision highlights its plan to scale up its 200-millimeter silicon carbide production capabilities, an effort essential to supporting future demand in rapidly expanding markets like automotive, energy, and industrial sectors. 

As COO, Emerson is responsible for shortening customer wait times while upholding manufacturing quality and optimizing delivery timelines.

On Tuesday, The Wall Street Journal reported that the company is preparing to file for bankruptcy in the coming weeks as it grapples with mounting debt challenges.

Wolfspeed’s third-quarter revenue slumped 79% year-on-year (YoY) to $185 million.

On Stocktwits, retail sentiment around Wolfspeed changed to ‘extremely bullish’ from ‘bullish’ the previous day.

A Stocktwits user wondered how the new COO was given such huge stock compensation.

Another user wants the company to take shareholders’ interests into account.

Wolfspeed stock has lost over 72% year-to-date and 92% in the last 12 months.

Also See: Intuit Stock Surges Post Strong Q3, Wall Street Lifts Price Target: Retail’s Exuberant

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