DOW JONES NEWSWIRES
Altera Corp. (ALTR) named Ronald Pasek, a 19-year veteran of Sun
Microsystems Inc. (JAVA), as the logic-chip maker's chief financial
officer.
Pasek replaces Timothy Morse, who resigned in June to take the
same post at Yahoo Inc. (YHOO). He will report to Chairman and
Chief Executive John Daane.
Pasek recently was Sun's corporate treasurer and previously held
a variety of finance positions there. Sun is awaiting final
regulatory approval before it $7.4 billion buyout from Oracle Corp.
(ORCL) closes.
"Ron brings a wealth of experience from one of the pioneers in
the technology industry," Daane said. "His finance and
international experience will be of great value to Altera as we
continue to grow internationally and increase market share."
Last month, Altera boosted its already rosy fourth-quarter
revenue outlook amid what it called a strong new-product cycle. The
company--which designs chips that customers can program for use in
products such as Internet routers, mobile-phone base stations,
flat-panel televisions and DVD players--also noted improving market
trends and customer desire to boost inventories as factors.
Its shares recently traded at $22.83, up 1.5%. The stock has
gained 37% this year.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357;
Kathy.Shwiff@dowjones.com