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Affymetrix CFO Barabe to retire in June

SANTA CLARA, Calif. (AP) -- Affymetrix Chief Financial Officer Tim Barabe is planning to retire from his post next month.

The genetic testing instrument business said Monday that it is promoting Gavin Wood to the position. Barabe's retirement is effective June 28.

Wood will be responsible for Affymetrix's finance, accounting, information technology, facilities and investor relations functions.

Wood, who has worked for Affymetrix Inc. since 2006, most recently served as vice president of finance, international controller. He will report to CEO Frank Witney.

Affymetrix is based in Santa Clara, Calif. Its shares finished at $3.69 in Friday. Its shares have traded in a 52-week range of $2.96 to $5.50.