Executive movements: Cree, AXT and Avanex
Swoboda replaces Hunter at Cree
Cree's CEO and president Chuck Swoboda has been elected as chairman of the company's board of directors, following the resignation of F. Neal Hunter.
As one of Cree's original founders, Hunter had been chairman for the past ten years, during which time Cree has become a major manufacturer of SiC-based LED chips and microelectronic devices. Hunter had been Cree CEO from 1994 to 2001.
Cree is also extending its share repurchase program, which allows the company's management to use available to cash to acquire up to 5.45 million shares of common stock.
AXT's Tatzin resigns from board
Donald Tatzin has resigned from AXT's board of directors.
Previously the company's chief financial officer, Tatzin was appointed as interim CEO after a 2004 investigation into the substrate supplier's working practices revealed that some requirements for product testing, as well as the supply of product test data to its customers, were not being complied with.
Last month, AXT appointed Aixtron and ATMI veteran Philip Yin as its new CEO. Yin will take Tatzin's place on the board.
Major steps up as Avanex chairman
Fiber-optic component manufacturer Avanex has replaced Syrus Madavi with current CEO Jo Major as the chairman of its board.
With Madavi leaving for personal reasons, Avanex has also appointed former JDS Uniphase executive Greg Dougherty to its board.
Previously chief operating officer at both JDSU and SDL, Dougherty is also the acting CEO of laser start-up Picarro., which recently raised $15 million in series C financing.
Like Dougherty, Major was previously at JDS Uniphase.
