CALABASAS, Calif. (AP) — Network hardware maker Ixia Inc. said Thursday that its founder, Errol Ginsberg, is leaving his post as chief executive to lead a new division.
Ginsberg will remain as Ixia's chairman and take the new post of chief innovation officer. He will also lead the newly formed Ixia Labs division. Former Chief Operating Officer Atul Bhatnagar, 51, is the new CEO.
The changes take effect immediately. Ginsberg, 52, will focus on product development, market opportunities and potential acquisitions in his new role.
Bhatnagar became president and COO of Ixia, which makes interface cards that transmit and analyze network signals, in September. He has worked at Hewlett-Packard Co. and Nortel Networks Corp.
Ixia stock finished at $7.25 on Thursday.