CREE CMO Spec (01 21 14-F-DW)

“Chief Marketing Officer”

(Raleigh-Durham, NC)

Company Overview

CREE, Inc. (“CREE” – NASDAQ) develops, manufactures, and sells lighting-class light emitting diode (LED), lighting, and semiconductor products for power and radio-frequency (RF) applications in the United States, China, Europe, South Korea, Japan, Malaysia, and Taiwan. CREE is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, environmentally friendly LED lighting. CREE is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor solutions for wireless and power 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 radio-frequency/wireless devices. CREE solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variable-speed motors, and wireless communications. CREE, Inc. was founded in 1987, employs more than 6,100 today, and is headquartered in Durham, North Carolina. For more information, visit www.cree.com.

CREE Stock Performance – Past Two Years

Corporate Opportunities and Marketing Challenges

· Extend CREE’s share leadership with new products, communications, channel management

· Drive higher levels of awareness of the “CREE” brand in targeted consumer segments

· Convert more contractors, builders and “influencers” to the CREE brand of lighting

· Build sustainable advantages by driving more new products into current categories

· Drive the LED Lighting Revolution, with CREE as the leader in this movement

· Improve EBITDA despite higher raw materials costs, and increasing competition

CREE ~ “Chief Marketing Officer” Page 6 of 6

Position Overview

The new “CMO” for CREE will be the senior-most Marketing leader in the company, with overall corporate Marketing responsibility, and responsibility for influencing and advising Marketing and business leaders within each CREE business unit. The “CMO” will report directly to the CEO, Mr. Charles Swoboda, who views this position as critical to helping CREE enhance its profile and equity, corporately, and driving revenue—with more aggressive and innovative Marketing—across both enterprise and consumer brands and products. This is largely a “key influencer” role, as it will not own responsibility for brand or product P&L. That said, the new “CMO” is expected to be a key contributor to corporate strategic planning and business/Marketing planning within the BU’s.

Scope of Responsibilities

· Corporate Marketing – Responsible for developing, embracing and deploying all critical corporate and corporate brand communications (or standards for development), including tactical elements like Advertising (TV, Print, Digital), Public Relations, Investor and Industry Relations, Sales and Business Development materials, Trade Show strategies and Communications, White Papers (Thought Leadership), Partner Marketing materials, and all Interactive and Social Marketing (FB, LI, Twitter, Blogs, Mobile). Formulate and execute strategies for CREE-owned websites. This work will require development and management of a portfolio of strong, external agencies and consultants.

· Drive LED Lighting Revolution – CREE’s exciting new LED technology can now be used for general lighting in a wide range of consumer applications, and consumer awareness and demand for LED lighting is growing quickly. This “CMO” will need to help drive the LED Lighting Revolution, as it’s good for CREE, and good for the world. LED technology is incredibly exciting news for planet earth, because LED offers solutions to some of the critical issues we face today—demand for energy, increasing scarcity of supply, climate change, safety and productivity at work. Important to note is that LED technology—when combined with the latest solar and battery developments—can also provide practical lighting solutions for 30% of the planet which currently lives without electricity.

· Consumer Brand Stewardship – Serve as a passionate steward, advocate and gatekeeper for the CREE consumer brand and the equity that has been built to-date. As needed, work with the Marketing leadership in the Lighting business unit, to champion a renewal and refinement of the brand’s strategic positioning and architecture, derived from a deep understanding of key brand health measures, as well as a keen understanding of the ever-changing competitive, technological, enterprise, retail and consumer environments. Ensure all Lighting brand-related communications reflect and embrace the essence of the CREE consumer brand, and its core equity/promise.

· Communications – Primary responsibility for developing both corporate and brand-specific creative strategies, and working closely with the company’s line Marketing leadership—and agencies—to bring those strategies to life with compelling, brand-building advertising and other forms and channels of communication (including web and in-store). Additionally, Responsible for developing a national media plan, and working closely with agencies to deploy media strategically, and with an eye towards ROI. Responsible for overseeing and approving both national and local PR efforts (strategy and plans). PR responsibilities will include both offline (traditional) and online (Twitter, Facebook, LinkedIn, Blogs, et al) vehicles. Develop impactful consumer and (retail) trade promotions, working closely with the line Marketing and Sales teams.

Scope of Responsibilities continued

· B2B Marketing Guidance – Partner with the senior management team—and others in the Marketing, Sales, Finance, Engineering and Product teams—to architect, update and optimize an integrated Brand, Product and Communications strategy for business units that oversee Enterprise Lighting, Components and Modules, Chips and Materials, Power and RF. Utilize market data, customer research and insights, competitive intelligence, and old fashioned “instinct” to identify new opportunities and needs in each of these critical enterprise markets to support the expansion, customization, and optimization of existing products, the introduction of new products, and segmentation initiatives that will drive trial and loyalty, as well as new revenue streams for each business line. Ensure incremental, or expanded Marketing investments are qualified and to the extent possible, proven on a measured ROI basis.

· Revenue Growth and Profit Margin – While this is not a line Marketing role, per se, the “CMO” is responsible for helping to drive profitable revenue growth across all business units at CREE – Lighting, LED and Power/RF. The “CMO” will be responsible for advising the business unit Marketing leaders, to help continually enhance the margin health of their portfolios. Building the brands, and helping to drive revenue and profitability going forward, are top priorities.

· Innovation & New Products Support – Dive right into CREE’s recent Innovation work, and continue to help the Marketing leaders in each line of business, develop and qualify a number of new products (and, potentially, brands), based on what will resonate most convincingly with enterprise customers, consumers and with retailers. Looking ahead, strive to continually uncover and identify new marketplace and consumer trends, thereby enabling the company—and the business lines—to set the pace for “what must come next” from a category standpoint. This understanding will be leveraged to lead the “LEDLighting Revolution,” as mentioned earlier, and to define new product/technology opportunities worth exploring further via strategy/business case development and measurable, projectable in-market testing, to the extent possible.

· Functional Leadership & Development – Build and shape a highly-effective, world-class Corporate Marketing organization inside CREE, by training, motivating and setting leadership direction for all direct (and indirect) reports. Continue to nurture a collaborative and customer-oriented Marketing community, cross-functionally, within CREE. Review and enhance, where necessary, all Marketing processes, measurements, information systems, etc., that enable the overall Corporate Marketing function to operate efficiently and effectively. Leverage these same principles to help the Marketing leadership in the lines of business, optimize their team and capabilities.

Performance & Success Measures

· CREE Brand Health metrics (Awareness, Preference, Equity)

· Increases on the corporate and brand-specific NPS results

· Drive key PR metrics (e.g., Share of Voice)

· Contribute significantly to the corporate/brand growth strategies

· Success metrics on new CREE brand and new CREE product launches

· Revenue and EBITDA (year-over-year increase)

· In-Store Retail Presence (Distribution, Shelving, Merchandising, Pricing and Visibility)

· Marketing and Trade spending effectiveness/efficiency

· 360-degree internal feedback (successful integration into the company)

Reporting Relationship(s)

The new “CMO” for CREE will report to the CEO, Mr. Charles Swoboda. Chuck has served as the Company's Chief Executive Officer since June, 2001, as President since January, 1999, as a member of the Board of Directors since October, 2000 and as Chairman since April, 2005. He was Chief Operating Officer of the Company from 1997 to June, 2001 and Vice President for Operations from 1997 to 1999. Prior to his appointment as Vice President for Operations, Chuck served as Operations Manager from 1996 to 1997, as General Manager of the Company's former subsidiary, Real Color Displays, Inc., from 1994 to 1996, and as LED Product Manager from 1993 to 1994. After earning his Engineering degree from Marquette University's College of Engineering, in 1989, he was employed by the Hewlett-Packard Company. In 2010, he was named Ernst & Young's Entrepreneur of the Year for the Carolinas. He received the Spirit of Marquette Award in 2004 and is a member of the Marquette University President's Society, and the University’s Board of Trustees.

Key Internal Operating Relationships

· CEO

· Business unit leaders (P&L owners)

· Business unit Marketing leaders

· Corporate Sales, Finance and Research assets

Staff and Resources

The new Corporate “CMO” for CREE will initially oversee a team of about 12. This individual will need to determine, over time, the optimal structure for Corporate Marketing, which will require adding or modifying certain positions, and training and developing their team.

The CREE Corporate Marketing team today includes specialists in Strategy, Business Development, Product Marketing, Applications, Online Marketing, Marketing Communications, Public Relations, Programming, Engineering and Software Development.

Compensation & Benefits

· Competitive base salary

· Annual cash performance incentive/bonus

· Equity participation

· 401K (with match)

· Life and DB Insurance (available)

· Paid time off/Vacation

· Comprehensive Health Care benefits

· Relocation assistance to the greater Raleigh-Durham, NC area

Candidate Profile

Experience Base

· Marketing/Brand Management – Foundational experience in Brand or Product Marketing, within and across industries like Consumer Packaged Goods, where the role requires close collaboration across multiple functions. Specific experience required includes Brand Development, Advertising, Concept/New Product Development, Marketing Mix Analysis, Econometric Modeling, Customer Satisfaction, Brand Health monitoring, etc.

· Complete Marketing Toolkit – Experience across the traditional Marketing mix, with demonstrated results in Positioning, Product Management, New Products/Innovation, PR, local Advertising and Media, Trade/Customer Marketing (very important), Local Promotion and Events, etc. This experience would ideally include exposure to, and understanding of Digital Marketing (e.g., Display, SEO/SEM, EMM, Affiliate, Social, Mobile).

· B2B Marketing – Ideally, additional B2B Marketing experience in an industry outside CPG, where the business is driven more by functions such as Sales, Technology, Engineering, etc. This could be Technology (hardware or software), Communications, Durables, Automotive/Transportation, or an Industrial sector.

· Entrepreneurial Experience – Ideally, experience with a start-up, or early-stage venture, or a successful turn-around situation, is highly desired (proven success and results with limited resources¾people, money, time). This would ideally be with a younger, moreprogressive brand that is disruptive in its market, with a Marketing approach that is cutting-edge.

· Innovation/NPD – Proven experience developing new products/services from an “end to end” perspective (e.g., concept to activation); understands the importance of using a robust Stage Gate—or comparable—development process.

· Organizational Development – Experience recruiting, hiring, managing, developing, motivating and promoting direct reports, and installing/nurturing a Marketing-centric culture. This ability extends to external relationships, too, with key Agency partners. Proven success delivering results with limited resources¾people, money and time.

Skill Set

· World-class Brand and B2C and B2B Marketing skills (technically proficient)

· Innovative and creative thinking balanced with pragmatism (fresh, imaginative thinking)

· Organizational leadership and team development (leads through influence)

· Intellectual horsepower (highly analytical & strategic)

· Drives for results in prioritized manner (balanced sense of urgency)

· Listening skills, minimal ego (listen first, then respond)

· Complex problem-solving, especially hands-on ability (create options, then converge)

· Organized and attention-to-detail approach (strong tactical execution)

· Highly resourceful (stretches people and money; compresses time)

· Collaborative (works with peers across many functionalities within the company)

Personality Profile

· Self-directed/motivated self-starter

· Flexible and adaptable

· Results orientation

· Sense of urgency

· Enthusiastic

· Strong work ethic

· High integrity and trustworthy

· Intellectually curious

· Ego in-check

Search Contact

David Wiser

Principal Partner – Cincinnati, OH Office

513.919.4000 (M)

File: Position Specification/ CREE/CREE CMO Spec (01 21 14-F-DW)