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Tuesday, March 29, 2011

Anadigics (ANAD) Plunges as CEO, SVP Resign

Shares of Anadigics Inc. (NASDAQ:ANAD) continue to be under pressure on the news Chief Executive Officer Mario Rivas and senior vice president Greg White have resigned.

Earlier in the trading session the share price fell about 12 percent, although it has recovered for the maker of cell phone chips.

Named as new CEO for the company is Ron Michels.

Anadigics is trading at $4.37, down $0.28, or 6.02 percent, as of 1:56 PM EDT.

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