named John Daane president and chief executive, effective Nov. 30.
Daane will replace Rodney Smith, who announced his intention to retire late last year. Smith will remain the chairman of Altera's board. Daane, who has been with
since 1985, was most recently the head of the company's communications products unit.
Shares of Altera were recently quoted at $28.49 in after-hours trading on the
ECN, while shares of LSI fell 6.13%, or $1.38, to $21.06 at 4 p.m. on the
New York Stock Exchange