Cree, Inc. Appoints Mike McDevitt Chief Financial Officer

  Cree, Inc. Appoints Mike McDevitt Chief Financial Officer

Business Wire

DURHAM, N.C. -- February 4, 2013

Cree, Inc. (Nasdaq:CREE) announces the appointment of Mike McDevitt as
Executive Vice President and Chief Financial Officer (CFO), effective
immediately. McDevitt brings more than two decades of finance and operations
leadership and has served as Vice President and Interim CFO of the company
since May 22, 2012.

“Mike is an invaluable member of the Cree team and I am very pleased to
announce his appointment as CFO,” said Chuck Swoboda, Cree chairman and CEO.
“After conducting an exhaustive national search, we realized Mike is the best
candidate for the job. Mike’s proven leadership will help Cree drive
innovation and accelerated adoption of LED lighting.”

Prior to his appointment as Interim CFO, McDevitt held several key leadership
roles at Cree including Director of Sales Operations from 2011-2012, Director
of Financial Planning from 2005-2011 and Corporate Controller from 2002-2005.

About Cree

Cree is leading the LED lighting revolution and making energy-wasting
traditional lighting technologies obsolete through the use of
energy-efficient, mercury-free LED lighting. Cree is a market-leading
innovator of lighting-class LEDs, LED lighting, and semiconductor products for
power and radio frequency (RF) applications.

Cree's product families include LED fixtures and bulbs, blue and green LED
chips, high-brightness LEDs, lighting-class power LEDs, power-switching
devices and RF devices. Cree products are driving improvements in applications
such as general illumination, electronic signs and signals, power supplies and
inverters.

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

This press release contains forward-looking statements involving risks and
uncertainties, both known and unknown, that may cause actual results to differ
materially from those indicated. Actual results may differ materially due to a
number of factors, including customer acceptance of LED products; the rapid
development of new technology and competing products that may impair demand or
render Cree’s products obsolete; and other factors discussed in Cree’s filings
with the Securities and Exchange Commission, including its report on Form 10-K
for the year ended June 24, 2012, and subsequent filings.

Cree^® is a registered trademark of Cree, Inc.

Contact:

Cree, Inc.
Raiford Garrabrant, 919-407-7895
raiford_garrabrant@cree.com