InterDigital CFO to Resign

InterDigital Communications Corp.(IDCC Quote) has launched a search for a new chief financial officer now that Richard Fagan has notified the company of his intention to resign.

Fagan is staying with the wireless technology company while it searches for his successor, but he plans to leave no later than Aug. 15.

"I will work to affect a smooth transition of my responsibilities and am confident in the future success of InterDigital...," Fagan said in a statement. "I am now looking forward to pursuing some entrepreneurial interests."

Shares of the King of Prussia, Pa., company were up 98 cents, or 3.2%, at $32.06 in early morning trading Tuesday.