Wolfspeed Soars After New CFO Hire

Wolfspeed's WOLF stock this weekshares jumped over 40% to about $1.70 after the company tapped Gregor van Issum as its new CFO (he'll start September 1).

Van Issum isn't just any finance executive, he's got a resume at ams-OSRAM and NXP, so investors clearly took comfort that someone with serious semiconductor chops is steering the ship.

This hire comes hot on the heels of Wolfspeed naming David Emerson as COO back in May. Between the two of them, Wolfspeed now has seasoned operators in both finance and day-to-day operationswhich is exactly what you want to see when you're clawing your way back from an 80% stock drop this year.

Remember, the chipmaker even warned it might not make it as a going concern before lining up a pre-packaged bankruptcy plan to slash $4.6 billion of debt (about 70%) and cut annual interest payments by 60%.

So why all the excitement? With van Issum on board, Wolfspeed looks better positioned to juggle its restructuring, manage cash, and capitalize on booming demand for silicon-carbide tech in EVs and AI data centers.

If they can pull off the plan to emerge from restructuring by the end of Q3, we might really see them turn the cornerat least that's what the market's betting on right now.