Integrated circuits maker Analog Devices Inc. (ADI) confirmed Monday the additional role of chief executive officer on President Vincent Roche, who has been serving as interim CEO since the sudden death of Jerald Fishman on March 28. Roche was also elected to the Board of Directors, effective immediately.
"ADI is fortunate to have an executive of Vince's caliber assume the leadership of our company. Vince's long tenure and his deep understanding of our technology, customers, and markets will serve ADI well as we continue to execute on the strategic plan which Vince played a major role in shaping," Co-founder and Chairman Ray Stata said in a statement.
Roche, age 53, is only the third CEO to lead the company since its founding in 1965. He began his near 25-year career with the company in 1988 and has been part of the senior management team since 2001.
Roche has held senior positions for ADI in Ireland, Massachusetts, and California, progressively gaining responsibility in product line management, strategic marketing, and business unit management roles.
Roche was promoted to president in 2012, taking responsibility for all R&D, sales, marketing and business development, and was named interim CEO in March 2013.
"I am honored to take the helm of this great company and privileged to follow in Ray Stata's and Jerry Fishman's footsteps as President and CEO," said Roche.
Fishman joined Analog Devices in 1971 in product marketing. His responsibilities and his contributions expanded quickly as he rose through the ranks of the company, and in 1991 he was named president and chief operating officer.
In 1996, Fishman was named president and CEO. Jerry's contributions to ADI and the industry were recognized throughout his career.
In Monday's regular trading session, ADI is currently trading at $45.70, up $0.70 or 1.56% on a volume of 1.30 million shares.
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