Served 16 years! CREE CEO Chuck Swoboda is about to leave

CREE (CREE) said Friday that the company's chief executive, Chuck Swoboda, will leave office after 16 years, but will remain in office until the new CEO is appointed, and may later be a corporate consultant. Swoboda's decision is tied to recent physical conditions.

CREE CEO Chuck Swoboda

The company maintained a four quarter budget, with revenues of $3.40-3.60 and adjusted earnings of 2-7 cents per share. CREE's shares have fallen by 18% in the past three months, up 1% from the S & P 500 (SPX).

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