Analog Devices (NASDAQ:ADI) has a new boss.
On Monday, Analog announced it has confirmed 25-year company veteran and current interim Chief Executive Officer Vincent Roche as its new CEO.
Roche took the reins at Analog following the death of the company's previous CEO, Jerald Fishman, in March. At the time, Roche was serving as company president. Now, after more than a month-long trial run, it appears the board is confident enough in his abilities to confirm him in the top job.
In a filing with the SEC Monday, Analog detailed the compensation it plans to pay Roche:
- Annual base salary of $715,000.
- An annual cash bonus targeting 150% of base salary.
- $750,000 worth of stock options.
- $750,000 in restricted stock units.
Shares rose 1.8% in Monday trading to close at $45.82.
Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not 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.