Powerwave Founder to Retire

The founder of Irvine-based Powerwave Technologies Corp. will retire as chairman at the end of this year, the company said Wednesday. Alfonso G. Cordero, 58, will continue as a nonemployee director of the manufacturer of amplifiers for wireless networks.

Succeeding Cordero will be John L. Clendenin, 64, who also is chairman emeritus of BellSouth Corp. and serves on several other boards, including Coca-Cola Enterprises Inc., Kroger Co. and Home Depot Inc.

Cordero had been a director since Powerwave’s inception in 1985 and served as chief executive from 1985 until 1996.

After going public in December 1996, the company’s stock hit a high of $48.50 in the fall of 1997, but has been struggling to return to that peak since.

It reached a low of $6.50 last October and closed Tuesday at $19.06.