Micrel (NASDAQ:MCRL) is now in the hunt for a CFO. The company announced that the man currently occupying that position, Ray Wallin, has served notice that he will resign effective Nov. 15.

Micrel said it has launched a search for Wallin's replacement. If the company hasn't found a suitable replacement by the time he plans to step down, it said that it and Wallin may agree to a deal to have him serve past that date.

No reason was given for his resignation.

Wallin has been the company's top finance executive for the past five years. He also holds the title of vice president of finance and human resources.

Fool contributor Eric Volkman has no position in Micrel. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.