Cree Inc. (CREE) announced Tuesday morning that John Kurtzweil has resigned as executive vice president-finance and CFO, effective May 21, 2012, to pursue other opportunities, and that Michael McDevitt has been appointed CFO on an interim basis. Mr. Kurtzweil will be leaving to join Extreme Networks.
Cree gapped open lower Tuesday, but was range-bound for the majority of the session. The stock closed down by 1.89 at $27.20 on strong volume. Cree has been declining for the past week and a half and set a 2 1/2 month low.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.