Cree has appointed Robert Tillman, former Lowe's Companies chairman and chief executive officer as the Company's Board of Directors and the Board's Compensation Committee, effective October 26, 2010.

"We welcome Bob to our Board of Directors,"said Chuck Swoboda, Cree chairman and chief executive officer. "He brings substantial leadership experience as a CEO in a major publicly traded company in the retail distribution industry. His knowledge, operational expertise and insight into consumer products should be very valuable to our board as we work to accelerate the LED Lighting Revolution."

Tillman, 67, served as chairman of Lowe's Companies, Inc. from 1998 to 2005, as its president and chief executive officer from 1996 to 2005, and as a member of its Board of Directors from 1994 to 2005. After his retirement from Lowe's in 2005, he served as a member of the Board of Directors of Bank of America Corporation from 2005 to 2009 and also as a member of its Executive and Asset Quality Committees.