Shares of Credence Systems (Nasdaq: CMOS) jumped 45 cents, nearly 20 percent, to $2.72 this morning, moving on volume of 4.5 million. The news of the appointment of a new senior vice president, paired with upcoming third-quarter results, seems to be prompting share activity.
This morning the test solutions provider announced that Amir Aghdaei will serve as senior VP of field operations and marketing to guide the company through its global field operations and marketing groups in collaboration with the company’s focus on increasing its presence in areas such as Japan and Taiwan.
In a statement, Credence CEO Lavi Lev said Aghdei’s 20 years of leadership and strategic direction is expected to help grow the company.
“Amir’s broad experience in the semiconductor equipment space, where he successfully set strategic direction for global teams, and built robust infrastructures for a wide variety of functional organizations, will be a tremendous asset to Credence,” Lev stated. “He brings a successful record of implementing profitable and highly efficient programs in many parts of the world, especially Asia, which we will leverage to better serve our customers and grow our business. I am very pleased to have Amir as a key member of the Credence management team.”
Credence provides testing solutions for the semiconductor industry, from design stages through production. The company’s products are used in testing digital logic, analog, mixed-signal, system-on-a-chip, and radio frequency semiconductors.
The company also recently announced that its third-quarter results will be released in a conference call Thursday, August 30, 2007.
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