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TranSwitch

(TXCC)

named Peter Tallian senior vice president and chief financial officer, effective immediately.

Tallian, formerly executive vice president and chief financial officer of

Metavante

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, succeeds Michael F. Stauff, who plans to pursue personal interests. Stauff will remain as a consultant to TranSwitch, a semiconductor maker, during a transition period.

Shares of TranSwitch, which is based in Shelton, Conn., closed at $27.31 in regular-session

Nasdaq

trading today, but fell to $26.50 in after-hours

Island

action.