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Micrel's chief financial officer resigns

The Associated Press

Chipmaker Micrel Inc. said Friday that Ray Wallin, its chief financial officer and vice president of finance and human resources, plans to resign.

The company has begun a national search for a replacement. Wallin will stay with the company through Nov. 15 to aid with a transition. If a successor has not been found by that time, he may extend his time with the company beyond that.

Wallin, 60, has worked with San Jose, Calif.-based Micrel for five years.

Shares of the company added 6 cents to close at $9.94, in line with broader market movement, and were unchanged after hours following the announcement.