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Cree CEO Swoboda to Step Down

Cree, Inc. (Durham, NC): Chairman, President and CEO Chuck Swoboda will step down from his executive positions and his seat on the company’s board of directors following a transition period. Swoboda intends to stay on until a successor is appointed, and thereafter will remain available as a consultant to the company to ensure a seamless transition of leadership responsibilities.

“I have had the privilege of leading Cree for 16 years, which has been extremely rewarding both professionally and personally,” Swoboda said in the company’s release. “My decision to change my work-life balance follows a recent medical issue, which was resolved, and which caused me to reevaluate my priorities.”

Swoboda joined Cree in 1993 and has held numerous executive positions. He has had a seat on the board since 2000 and was named chief executive officer in 2001, adding the chairman title in 2005. He led Cree from a near start-up to a major player in lighting with approximately 6,400 employees worldwide.

Cree said its board will retain an executive search firm to identify a successor and that both internal and external candidates will be considered.

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