MILPITAS, Calif. (AP) — Chip testing equipment maker Credence Systems Corp. named Kevin C. Eichler senior vice president and chief financial officer Tuesday, replacing Joy E. Leo after just a few months.
Eichler, 48, previously served as CFO and executive vice president of operations at MarketTools Inc.
Leo was named CFO last April, joined Credence in June and resigned in November.
Credence granted Eichler an employment inducement stock option award on Jan. 7, his start date. He can buy up to 400,000 of the company's shares at an exercise price of $2.26 each.
The company's shares fell 26 cents, or 11.5 percent, to $2 in premarket trading. Credence had forecast a first-quarter loss and revenue well below Wall Street's expectations.