Updated from 8:28 a.m. EDT

The chief executive of

JDS Uniphase


, Kevin Kalkhoven, announced his retirement Thursday.

The company's president and chief operating officer, Jozef Straus, has been named the high-tech company's new leader.

Kalkhoven, 55, also retired from his post as co-chairman but will remain as an adviser to the company through the end of fiscal 2001.

Straus, 53, co-founded

JDS Fitel

, which merged with Uniphase last year.

The San Jose-based company is a global supplier of components and modules for the fiber-optic telecommunications industry.

Shares of JDS Uniphase were down 3 1/4, or 4%, to 89 1/4 in midday trading Thursday. (JDS Uniphase closed down 5 5/8, or 6%, at 86 7/8.)