Cree Makes Its New CFO Choice Official

On Monday, LED specialist Cree (NASDAQ: CREE  ) announced that it has decided to make interim Chief Financial Officer Mike McDevitt's job permanent, effective immediately.

CEO Chuck Swoboda described "Mike" as "an invaluable member of the Cree team," and well he might say so. Over the past couple of quarters, McDevitt has run the CFO shop (even if only on an interim basis), and he's helped Cree grow its quarterly revenues 13% (in the most recent quarter, and as compared with fiscal Q4 2012) and more than double its net income.

Nonetheless, Cree's news couldn't protect the stock entirely from a falling market today. Cree shares closed down 0.4% at $43.75.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2235084, ~/Articles/ArticleHandler.aspx, 9/19/2014 5:51:39 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement