Adaptec CFO Resigns

Adaptec Inc., the No. 1 designer of electronic cards that speed computer communications, said Chief Financial Officer Andy Brown resigned to pursue other interests. The company reiterated that it expects fiscal second-quarter earnings to be in line with estimates. It’s expected to earn 37 cents a share, the average forecast of four analysts surveyed by First Call/Thomson Financial. The company earned 45 cents in the year-earlier quarter. Robert Stephens, chief executive and president, will serve as interim CFO until a replacement is named, Adaptec said. Brown, 41, has been with Adaptec for about 12 years and has been CFO for just over two. Adaptec shares fell $1.88, to $24.50 on Nasdaq.