Market Overview

Cree Names Neill Reynolds as CFO

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Cree, Inc. (NASDAQ:CREE) announces the appointment of Neill Reynolds as
chief financial officer (CFO), effective Aug. 27. Reynolds will succeed
Mike McDevitt at that time, per the transition plan announced in June.

Reynolds brings extensive executive financial and industry leadership
experience to Cree. He joins from NXP Semiconductors N.V., where he
serves as senior vice president of finance, strategy and procurement. At
NXP, Reynolds has led global teams to develop and drive profitability
initiatives to expand profit margins and deliver on growth objectives.

Prior to NXP, his career includes more than 15 years as a finance leader
with international technology companies including General Electric,
where he held CFO positions in various businesses and served on
management teams that consistently delivered profit enhancements for
global industrial and manufacturing businesses, spanning multiple
technology industries.

"Neill is an exceptional leader with vast experience within the markets
Cree serves," said Gregg Lowe, CEO of Cree. "We believe that Neill's
industry knowledge will help position Cree for continued success and
support our growth plans. We thank Mike for his substantial
contributions to Cree's success over the past 16 years and are grateful
for his support during the transition."

Reynolds holds a bachelor's degree from Boston College.

About Cree, Inc.

Cree is an innovator of Wolfspeed™ power and radio frequency (RF)
semiconductors, lighting class LEDs and lighting products. Cree's
Wolfspeed product families include SiC materials, power-switching
devices and RF devices targeted for applications such as electric
vehicles, fast charging, inverters, power supplies, telecom and military
and aerospace. Cree's LED product families include blue and green LED
chips, high-brightness LEDs and lighting-class power LEDs targeted for
indoor and outdoor lighting, video displays, transportation and
electronic signs and signals. Cree's LED lighting systems and lamps
serve indoor and outdoor applications.

For additional product and Company information, please refer to www.cree.com.

Cree® is a registered trademark and WolfspeedTM is
a trademark of Cree, Inc. NXP is a trademark of NXP B.V.

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