Cree CEO to step down

Cree CEO to step down

Chuck Swoboda, who led the transformation of Durham-based Cree Inc. from a producer of LEDs into a lighting company that manufactures its own LED bulbs and light fixtures, will step down as CEO of the 6,400-employee company after a successor is named. The change at the top comes at a trying time for Cree, with the company struggling with declining revenue stemming from slack demand as well as internal issues.

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