Altera (ALTR) named Timothy R. Morse finance chief.

The San Jose, Calif., chip company said Morse was finance chief at General Electric's ( GE) GE Plastics, which the Fairfield, Conn., conglomerate recently decided to sell.

"Altera is at the forefront of a very exciting, high growth industry," said Morse. "The company's reputation of operational excellence and customer- driven culture are key strengths I look forward to leveraging. I'm thrilled to be joining the company and to being part of an exceptional leadership team."

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