By Michael Dabaie

 

Analog Devices Inc. said it named President and Chief Executive Vincent Roche as chair of the board.

The appointment becomes effective as of the date of ADI's 2022 annual meeting of Shareholders. Mr. Roche would succeed Ray Stata, who has been chair since 1973, and would become only the second chair in ADI's history.

Mr. Stata is expected to stand for reelection as a director at ADI's 2022 annual meeting.

Shares rose 2%, to $169.74, in premarket trading.

"Vince has shown remarkable leadership of ADI as our President and CEO. We are certain that this appointment strengthens his ability to continue his leadership of ADI," Mr. Stata said.

In 1965, Mr. Stata co-founded ADI with Matthew Lorber, the company said. Mr. Stata served as president of ADI from 1971 to 1991 and as CEO from 1973 to 1996.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

January 19, 2022 09:06 ET (14:06 GMT)

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