Wolfspeed, Inc. (NYSE:WOLF), a semiconductor company facing significant challenges with its stock down over 75% in the past year, announced the results of its Annual Meeting of Shareholders that took place on Thursday.
The company, which specializes in semiconductors and related devices, reported that its shareholders approved all the proposals presented during the meeting. According to InvestingPro analysis, Wolfspeed currently shows a Weak financial health score, with 13 key investment insights available to subscribers.
The first proposal concerned the election of nine nominees to the company's board of directors. All nominees were elected, with George H. "Woody" Young III receiving the highest number of votes for, and Thomas H. Werner having the most votes withheld. Notably, Gregg A. Lowe, a previous nominee, had withdrawn himself from consideration following his departure as the company’s President and CEO on November 18, 2024.
The company reported that there were 19,215,476 broker non-votes for the first and third proposals. Broker non-votes occur when shares held by brokerage firms on behalf of clients are not voted either because the broker did not receive voting instructions from the client or because the broker is not permitted to vote on the particular matter without instructions.
In other recent news, Wolfspeed, Inc. has reported its financial outcomes for the first quarter of fiscal year 2025, emphasizing non-GAAP results. The earnings call, led by outgoing CEO Gregg Lowe and CFO Neill Reynolds, offered insights into the company's performance and future business prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.