DOW JONES NEWSWIRES

Altera Corp. (ALTR) named Controller James W. Callas acting chief financial officer after Timothy R. Morse resigned to take the same post at Yahoo Inc. (YHOO).

The chip maker said a search for a replacement was under way.

Morse spent slightly more than two years at Altera, helping the company recover from federal and internal probes into its stock-options practices. The previous financial chief resigned in connection with those probes.

Before Altera, Morse worked 15 years at General Electric Co. (GE) and was chief financial officer and general manager of business development at GE Plastics.

Altera's shares were at $17.26, down 0.7%, in after-hours trading.

-By Kathy Shwiff, Dow Jones Newswires; 201-938-5975; Kathy.Shwiff@dowjones.com