Looks like GPS chipmaker SiRF’s woes of the past year were a little too much for President and CEO Michael Canning who has resigned effectively immediately. He’ll be replaced by one of SiRF’s founders and chairman of the companies board of directors, Diosdado P. Banatao, now interim president and CEO executive chair. Yesterday, following the announcement of Canning’s resignation, SiRF’s stock was up 78 cents to $6.25, a 14.26% increase for the day. Despite the impressive one day gain, SiRF’s stock is still down 76% for the year.
via seeking alpha
