COO of Chip Maker Cirrus Logic Resigns

Cirrus Logic Inc. said Thomas Kelly, co-president and chief operating officer, is resigning and Chairman Michael Hackworth will resume the job of president and chief executive. Hackworth, 57, was president and chief executive of the computer-chip maker from 1989 through last April. After the reorganization, he will again be responsible for overseeing all company operations. Kelly, 45, will resign his positions to pursue other interests effective today. Fremont-based Cirrus intends to expand into new markets, such as communications chips, while strengthening its position in existing ones, such as storage and mixed-signal chips, Hackworth said in a statement. Cirrus shares fell 44 cents to close at $10.31 on Nasdaq.