gave its interim chief a permanent title.
Sal Iannuzzi has been named Symbol's CEO, after filling in since August when former chief Bill Nuti left to take the top job at
. Iannuzzi joined Symbol's board in 2003, while he was a banker at CIBC.
In the past three years, Iannuzzi has held the title of nonexecutive chairman, chief administrative control officer, CFO and CEO. Symbol says he will keep his job as CFO until a replacement is found.
"Since taking the job in August, Sal has done a tremendous job of strengthening Symbol's leadership position in the enterprise mobility market. He has successfully lowered operating expenses and delivered results for our shareholders," said nonexecutive chairman Bob Chrenc.
The struggling maker of bar-code readers hired Long Island native Nuti in 2002 to help lift the company out of an accounting scandal created by the previous management. Symbol settled a shareholder lawsuit for $98 million and a fraud investigation by the
Securities and Exchange Commission
for $37 million in 2004.
Symbol shares closed down 24 cents at $12.92 Thursday and fell an additional 17 cents to $12.75 in after-hours trading.