Wireless chip maker
RF Micro Devices
said its chief executive will retire in January and be succeeded by its current president.
Bob Bruggeworth will succeed David Norbury as CEO, although Norbury will stay on as a member of the board.
Bruggeworth has been president of the company since June and has been with RF Micro since 1999. Previously, he was president of RF Micro Devices' wireless products group.
Shares of the Greensboro, N.C.-based company were up about 7% to $8.39.