Alphawave IP appoints semiconductor vet as new CFO

Semiconductor group Alphawave IP has poached Avantus' chief financial officer as its new CFO, after its previous finance chief resigned abruptly five months ago.

Alphawave IP, which trades as Alphawave Semi, is appointing Rahul Mathur to the board as of 30 October.

Mathur has served as CFO of clean energy company Avantus since 2021 and senior vice president of finance of semiconductor group Rambus from 2016 to 2021.

"During his tenure at Rambus, Rahul was an integral part of its transformation as a product company, consistently delivering strong financial results and shareholder value," the company said in a statement.

Mathur, who has also been in senior finance roles at other semiconductor and tech companies including Cypress Semiconductor Corp, Spansion and KLA, has extensive experience in M&A, corporate finance, strategic planning, investor relations and risk management, the statement said.

"I am delighted to welcome such an experienced CFO to the team," said Alphawave's co-founder, president and chief executive Tony Pialis. "His extensive experience in senior finance positions within listed semiconductor companies will be invaluable as we continue to build the foundations for the next phase of business growth, working with our customers to create next generation AI infrastructure."

Alphawave IP announced back in May that its CFO Daniel Aharoni would be stepping down with immediate effect following the publication of its full-year results, which showed that adjusted EBITDA fell 10% to $46.8m in 2022 despite revenues more than doubling to $185m.