San Jose, Calif.-based Symmetricom (NASDAQ:SYMM) has a new chief executive officer.
On Tuesday, the "precise time" computer announced a series of changes in upper management. Current CEO David G. Cote is leaving the company "to pursue other interests" and has been replaced by new CEO Elizabeth A. Fetter, a current board member. Details on Fetter's compensation have yet to be filed with the SEC.
Additionally, Chairman of the Board Robert T. Clarkson is ceding his chair to new Chairman James Chiddix (although Clarkson will remain on the board, and actually chair the compensation committee). Finally, board members Alfred F. Boschulte and Richard W. Oliver plan to retire from the board when their terms of office expire in October.
Symmetricom shares, which have lagged the broader stock market significantly over the past year and under the past management, responded positively to the change in tack, rising 2.4% in Tuesday trading to closer at $5.20.
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