Powerwave (PWAV) handed out a round of executive promotions Friday.

COO Ron Buschur is now the new chief executive, and his predecessor and former CEO Bruce Edwards took the company's chairman position.

The Santa Ana, Calif., wireless telecom component maker's stock has ridden some ups and downs in tandem with the expansion and consolidation in the cell-phone networking industry lately.

The company's shares fell 2 cents to $7.58 in early trading Friday.

Powerwave makes power amplifiers and antenna systems for mobile phone and radio networks and has recently pushed into indoor wireless technology with acquisitions such as Kaval, which it made this week for $10.8 million.