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.