Radyne CEO to Retire

Software maker Radyne (RADN Quote - Cramer on RADN - Stock Picks) said Chief Executive Bob Fitting will retire on Aug. 31, but he'll remain on the company's board of directors.

Carl Myron Wagner will succeed Fitting as Radyne's new CEO, and also will keep his title as the company's president.

Wagner, 50, joined Radyne in January as president and chief operating officer. He came to the company from General Dynamics (GD Quote - Cramer on GD - Stock Picks), where he acted as vice president and director of engineering for the space and national systems division.

"Myron Wagner has already demonstrated his ability to grasp the essence of Radyne's operations and strategic strengths," said C.J. Waylan, Radyne's chairman, in a statement. "His broad business and technical background, including the development of large, complex hardware and software products will be key to achieving Radyne's growth goals and earning returns for our shareholders into the future."