Friday, National Semiconductor Corp. (NSM), an analog power management technology company, said its chief executive officer, Brian Halla will retire from his post effective November 30. Halla will continue to remain the executive chairman of the company.
Halla will be succeeded by Donald Macleod, who will become the company's president and CEO and will be appointed to its Board of Directors effective November 30. Macleod currently serves as president and chief operating officer or COO of National Semiconductor.
Halla said that he will stay on through the 'rainy season' to make sure there are no leaks in the roof and that he plans to retire from the Board of Directors at the end of National's fiscal year 2010, the fourteenth anniversary of his joining the company.
Don Macleod joined National Semiconductor in 1978 and has served in escalating positions throughout his tenure. He rose through the Finance and European Sales and Marketing organizations before becoming vice president and chief financial officer in 1991. He was appointed executive vice president and COO in 2001 and to his current position of president and COO in 2005.
In its most recent fiscal quarter, National reported $314 million in sales with gross margin of 61% and earnings of $0.14 per share.
NSM is currently trading on the New York Stock Exchange at $14.20, up 3.80%.
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