Sept 29 (Reuters) - Chipmaker Wolfspeed said on

Monday it has exited Chapter 11 bankruptcy after cutting its

total debt by nearly 70% and lowering annual cash interest

expense by roughly 60%.

The company said it has sufficient liquidity to continue

supplying customers with silicon carbide-based chips.

Wolfspeed ( WOLF ) filed for Chapter 11 protection in late June in

the U.S. Bankruptcy Court for the Southern District of Texas,

after flagging going-concern doubts in May, citing deepening

economic uncertainty from changing U.S. trade policies and

weakening demand that triggered financial challenges.

The company on Monday also added five new directors to its

board, including Mike Bokan, most recently senior vice president

of worldwide sales at Micron, and Eric Musser, who is set

to retire this year as president of Corning Inc. ( GLW )

Wolfspeed ( WOLF ) makes silicon carbide-based chips, which are more

energy-efficient and used in high-power-conversion applications

such as electric vehicles, solar inverters and industrial power

systems.