Analog Devices CFO to step down in October

Analog Devices Inc.
ADI,
+2.29%
said late Thursday its chief financial officer was stepping down to explore other opportunities. Analog Devices shares declined 0.2% after hours, following a 2.3% rise to close at $192.26. After six years of service, the company said CFO Prashanth Mahendra-Rajah was stepping down at the end of the October-ending fiscal year to “ensure a seamless transition to new financial leadership.” The company said it has started a search for its next CFO. Analog Devices reiterated its quarterly outlook of $2.65 to $2.85 a share on revenue of $3.1 billion to $3.3 billion, while analysts expect $2.75 a share on revenue of $3.21 billion.